Qualys (NASDAQ:QLYS) Issues FY 2024 Earnings Guidance

Qualys (NASDAQ:QLYS - Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 5.060-5.300 for the period, compared to the consensus earnings per share estimate of 5.180. The company issued revenue guidance of $601.5 million-$608.5 million, compared to the consensus revenue estimate of $607.5 million. Qualys also updated its Q2 2024 guidance to 1.270-1.350 EPS.

Qualys Price Performance

QLYS stock traded down $16.23 during midday trading on Wednesday, reaching $149.75. 1,762,726 shares of the company's stock traded hands, compared to its average volume of 471,335. Qualys has a fifty-two week low of $113.00 and a fifty-two week high of $206.35. The business has a 50-day moving average price of $166.59 and a two-hundred day moving average price of $175.87. The company has a market capitalization of $5.53 billion, a P/E ratio of 37.07 and a beta of 0.51.

Qualys (NASDAQ:QLYS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.26. Qualys had a return on equity of 49.06% and a net margin of 27.34%. The firm had revenue of $144.57 million during the quarter, compared to the consensus estimate of $144.69 million. As a group, research analysts forecast that Qualys will post 3.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on QLYS. Wedbush reduced their price objective on Qualys from $230.00 to $210.00 and set an outperform rating on the stock in a research note on Thursday, February 8th. StockNews.com lowered shares of Qualys from a buy rating to a hold rating in a research note on Sunday, April 21st. Royal Bank of Canada decreased their target price on Qualys from $212.00 to $180.00 and set a sector perform rating for the company in a research note on Thursday, February 8th. TD Cowen assumed coverage on Qualys in a research report on Tuesday, March 26th. They set a market perform rating and a $170.00 price target on the stock. Finally, Scotiabank assumed coverage on Qualys in a research report on Friday, April 26th. They set a sector perform rating and a $172.00 price objective for the company. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average target price of $157.79.

Insider Buying and Selling

In other news, CFO Joo Mi Kim sold 928 shares of Qualys stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $167.97, for a total value of $155,876.16. Following the transaction, the chief financial officer now owns 93,196 shares of the company's stock, valued at approximately $15,654,132.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Joo Mi Kim sold 928 shares of Qualys stock in a transaction on Monday, May 6th. The stock was sold at an average price of $167.97, for a total value of $155,876.16. Following the transaction, the chief financial officer now directly owns 93,196 shares in the company, valued at approximately $15,654,132.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruce K. Posey sold 1,443 shares of the company's stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $167.33, for a total value of $241,457.19. Following the sale, the insider now directly owns 62,614 shares of the company's stock, valued at $10,477,200.62. The disclosure for this sale can be found here. Insiders have sold a total of 14,590 shares of company stock valued at $2,419,842 over the last three months. Company insiders own 1.00% of the company's stock.

Qualys Company Profile

Qualys, Inc, together with its subsidiaries, provides cloud-based platform delivering information technology (IT), security, and compliance solutions in the United States and internationally. It offers Qualys Cloud Apps, which include Cybersecurity Asset Management and External Attack Surface Management; Vulnerability Management, Detection and Response; Web Application Scanning; Patch Management; Custom Assessment and Remediation; Multi-Vector Endpoint Detection and Response; Context Extended Detection and Response; Policy Compliance; File Integrity Monitoring; and Qualys TotalCloud, as well as Cloud Workload Protection, Cloud Detection and Response, Cloud Security Posture Management, Infrastructure as Code, and Container Security.