Qualys price target lowered to $117 from $122 at JPMorgan

JPMorgan lowered the firm’s price target on Qualys (QLYS) to $117 from $122 and keeps an Underweight rating on the shares as part of an earnings preview for security software names. Macro uncertainty could result in greater conservatism in the full year outlooks, the analyst tells investors in a research note. The firm believes software vendors with “healthy” Q1results “could get a free pass to embed more conservatism in full year guidance by merely reiterating.”