Qualys price target lowered to $120 from $126 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Qualys (QLYS) to $120 from $126 and keeps an Underweight rating on the shares. Qualys delivered better than expected Q4 results and its FY25 outlook of about 7% revenue growth was inline, but the margin outlook was “well below expectations,” notes the analyst, whose forward free cash flow estimates come down following the report and guidance.