Qualys price target raised to $162 from $150 at RBC Capital

RBC Capital raised the firm’s price target on Qualys (QLYS) to $162 from $150 and keeps a Sector Perform rating on the shares. The company delivered better results against negative investor expectations highlighted by its 14% current billings growth, and the firm is positive on Qualys’ improved execution, signs of stabilization around net dollar expansion, strong new business and channel performance, and the potential for new products to contribute more meaningfully, the analyst tells investors in a research note.