Qualys price target lowered to $90 from $145 at TD Cowen

TD Cowen analyst Shaul Eyal lowered the firm’s price target on Qualys (QLYS) to $90 from $145 and keeps a Hold rating on the shares ahead of the Q1 report. The firm says that despite a “sharp compression” in Qualys’ valuation, it remains “wary” of the level of competition in the vulnerability management space. The emergence of new AI tools that can automate vulnerability detection “adds another layer of uncertainty” about the potential size of the total addressable market, the analyst tells investors in a research note.