Qualys price target lowered to $123 from $136 at Morgan Stanley

Morgan Stanley analyst Hamza Fodderwala lowered the firm’s price target on Qualys (QLYS) to $123 from $136 and keeps an Underweight rating on the shares. The firm’s survey work suggests a decline in performance for Qualys, with 33% of respondents missing expectations, which the firm calls “a notable uptick” compared to the last several quarters. Of note, 42% of survey respondents characterized Qualys as a share donor while none as a share gainer, which was “a sharp contrast to last quarter’s survey,” the analyst tells investors in a preview.