Qualys

QLYS · NASDAQ

$190.47+$0.39 (+0.21%)TodayMarket closed · Oct 20, 4:42 PM ET

Prev close $190.08

QLYS analyst rating

HoldConsensus of 15 analysts over the last 12 months. 27% rate it a buy.

Strong buy0
Buy4
Hold10
Underperform1
Sell0

12-month price target · 20 analysts

Average $179.04 (−6.0% downside)

Low: $131.30
Now: $190.47
High: $231.00

Upgrades and downgrades

The latest rating actions, newest first

QLYS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
TD Cowen	Oct 13, 2026	Maintains	Hold	$170.00 → $200.00	43%
Wedbush	Sep 11, 2026	Initiates	Neutral	$175.00	63%
DA Davidson	Aug 5, 2026	Maintains	Neutral	$135.00 → $165.00	61%
TD Cowen	Aug 5, 2026	Maintains	Hold	$145.00 → $170.00	43%
Morgan Stanley	Aug 5, 2026	Maintains	Underweight	$115.00 → $130.00	64%
Truist Securities	Aug 5, 2026	Maintains	Hold	$160.00 → $185.00	95%
RBC Capital	Aug 5, 2026	Maintains	Sector Perform	$145.00 → $180.00	61%
Scotiabank	Aug 5, 2026	Maintains	Sector Outperform	$190.00 → $220.00	54%
Piper Sandler	Aug 5, 2026	Maintains	Neutral	$100.00 → $175.00	72%
Jefferies	Aug 5, 2026	Maintains	Hold	$150.00 → $185.00	74%

The case for and against

Updated Oct 14, 2026

Bull case

Qualys is benefiting from a broad cyber-spend uplift as enterprises respond to fast-rising security budgets and AI-driven threat complexity, which supports stronger demand for its exposure management and automated remediation tools. The company delivered a solid start to the year with revenue of $175.6 million and EPS of $1.95, while its customer metrics improved as NRR rose to 104%, 221 customers exceeded $500K in annual spend, and ETM/CSAM net dollar expansion reached 107%. Management also raised FY/26 revenue and EPS guidance at the midpoint, and growing momentum in ETM, QFlex, the partner channel, and the installed base points to continued revenue growth and margin expansion.

Bear case

Qualys is facing a negative outlook because its vulnerability-management franchise appears increasingly saturated, limiting greenfield opportunities and slowing incremental revenue growth even as newer entrants intensify competition and pricing pressure. The company also risks share loss if the market concludes it is not building a broader platform that can consolidate security spend, while softer macro conditions could push out deals and weaken conversion rates. Although the cited base case still assumes a 5.2% revenue CAGR through CY'30 and a 40.0% FCF margin in CY'30, the lower 7x terminal EV/FCF multiple and 12% discount rate imply that weaker growth and margin durability remain central concerns.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.