Scotiabank analyst Patrick Colville has recently raised the firm’s price target on Qualys (QLYS) to $142 from $140, while maintaining a Sector Perform rating on the shares. This adjustment comes after the company’s Q1 earnings report, which Colville describes as “good enough.” This positive performance stands in contrast to its competitor Tenable’s (TENB) recent “disappointment.”
While Scotiabank acknowledges Qualys’ continued capital return in Q1, the firm is looking for evidence of a ramp up in newer products before becoming more bullish on the stock. This cautious approach reflects the analyst’s desire to see sustained growth and innovation from the company.
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