Financial News
Qualys Earnings: What To Look For From QLYS
Cloud security and compliance software provider Qualys (NASDAQ:QLYS) will be reporting earnings tomorrow after market close. Here’s what investors should know.
Qualys met analysts’ revenue expectations last quarter, reporting revenues of $148.7 million, up 8.4% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EBITDA estimates but underwhelming revenue guidance for the next quarter.
Is Qualys a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Qualys’s revenue to grow 6.2% year on year to $150.7 million, slowing from the 13.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.34 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Qualys has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Qualys’s peers in the cybersecurity segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Tenable delivered year-on-year revenue growth of 12.7%, beating analysts’ expectations by 1.7%, and Varonis reported revenues up 21.1%, topping estimates by 4.7%. Tenable traded down 4.1% following the results while Varonis was also down 10.7%.
Read our full analysis of Tenable’s results here and Varonis’s results here.
There has been positive sentiment among investors in the cybersecurity segment, with share prices up 6.3% on average over the last month. Qualys is up 3.3% during the same time and is heading into earnings with an average analyst price target of $136.97 (compared to the current share price of $125).
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