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Qualys gains on bullish Summit coverage

May 26, 2015 12:15 PM ETQualys, Inc. (QLYS) StockQLYSBy: Eric Jhonsa, SA News Editor
  • Believing the company's huge post-earnings selloff (caused by soft guidance) is overdone, Summit Research's Srini Nandury has launched coverage on Qualys (QLYS +1.7%) with a Buy rating and $50 target.
  • Nandury: "Qualys is the clear industry leader in Vulnerability Management (VM) and is growing faster (although the growth slowed in F1Q with stock slumping) than the market and gaining share from legacy VM vendors (McAfee)." The firm also highlights Qualys' efforts to expand into adjacent markets such as policy compliance software (9% of revenue). "New and impending product offerings will increase TAM and provide years of growth for the company."
  • Shares are higher in spite of a 1.1% drop for the Nasdaq. They're still down 27% from where they traded going into earnings on May 4.

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