Qualys price target lowered to $135 from $162 at RBC Capital

RBC Capital lowered the firm’s price target on Qualys (QLYS) to $135 from $162 and keeps a Sector Perform rating on the shares. The company delivered solid Q4 results vs. expectations, highlighted by 10% and 13% revenue and current billings growth, and the firm also liked its improved execution, signs of stabilization around net dollar expansion and channel performance, the analyst tells investors in a research note. CRO Dino DiMarino is departing the company however, creating room for some potential go-to-market changes this year and conservatism in guidance, the firm added.