Qualys price target lowered to $140 from $150 at Loop Capital

Loop Capital analyst Yun Kim lowered the firm’s price target on Qualys (QLYS) to $140 from $150 and keeps a Hold rating on the shares after its Q4 results. The company showed solid execution in the quarter, with revenue and current billings coming in well above estimates for two consecutive quarters, but the NRR – net revenue retention – remained at 103% largely due to the lingering effect of execution issues around upselling to existing customers in the first half of the year, the analyst tells investors in a research note.