Qualys Gets a Hold Rating from RBC Capital

By Carrie Williams

RBC Capital analyst Matthew Hedberg reiterated a Hold rating on Qualys (NASDAQ: QLYS) today and set a price target of $45. The company’s shares closed yesterday at $43, close to its 52-week high of $44.35.

According to TipRanks.com, Hedberg is a top 25 analyst with an average return of 22.5% and a 77.7% success rate. Hedberg covers the Technology sector, focusing on stocks such as Automatic Data Processing, Interactive Intelligence, and Palo Alto Networks.

Qualys has an analyst consensus of Moderate Buy, with a price target consensus of $44.

Based on Qualys’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $53.12 million and quarterly net profit of $21.93 million. In comparison, last year the company earned revenue of $46.25 million and had a net profit of $4.78 million.

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Qualys, Inc. engages in the provision of cloud security and compliance solutions. Its products enable organizations to identify security risks to information technology infrastructures; help protect information technology systems and applications from cyber attacks; and achieve compliance with internal policies and external regulations. The firm operates its business through the Unites States and Foreign geographical segments. It also offers solutions through a software-as-a-service model, primarily with renewable annual subscriptions. The company was founded on December 30, 1999 and is headquartered in Redwood City, CA.