Qualys price target raised to $126 from $123 at Morgan Stanley

Morgan Stanley analyst Hamza Fodderwala raised the firm’s price target on Qualys (QLYS) to $126 from $123 and keeps an Underweight rating on the shares. The company delivered “a strong Q3,” but given tepid Q4 pipeline commentary, slowing VM market growth and difficult competitive dynamics, the firm still sees risk to FY25 estimates, the analyst tells investors.