Qualys (QLYS) Reports Q3: Everything You Need To Know Ahead Of Earnings
Cloud security and compliance software provider Qualys (NASDAQ:QLYS) will be announcing earnings results tomorrow after the bell. Here's what to look for.
Last quarter Qualys reported revenues of $137.2 million, up 14.4% year on year, beating analyst revenue expectations by 1.05%. It was a decent quarter for the company, with revenue and EPS exceeding analysts' expectations.
Is Qualys buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Qualys's revenue to grow 12.3% year on year to $141 million, slowing down from the 19.7% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.13 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 0.87%.
Looking at Qualys's peers in the cybersecurity segment, only Varonis has so far reported results, with revenues decreasing 0.81% year on year, missing analyst estimates by 2.53%. The stock traded down 4.1% on the results.
Read our full analysis of Varonis's earnings results here.
The technology sell-off has been putting pressure on stocks and while some of the cybersecurity stocks have fared somewhat better, they have not been spared, with share price declining 4.45% over the last month. Qualys is up 0.96% during the same time, and is heading into the earnings with analyst price target of $138.5, compared to share price of $152.9.
One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.
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The author has no position in any of the stocks mentioned.
