Qualys price target raised to $155 from $135 at Jefferies

Jefferies analyst Joseph Gallo raised the firm’s price target on Qualys (QLYS) to $155 from $135 and keeps a Hold rating on the shares. Current billings grew an “impressive” 14% year-over-year, beating consensus expectations, notes the firm, which views Q4 billings commentary implying new business down about 25% year-over-year as “prudent.” Q3 marks a positive inflection, but cautious pipeline commentary raises questions on pull forward and the sustainability of growth, the analyst tells investors.