Needham analyst Alex Henderson raised his price target on Qualys to $95 and kept his Buy rating after his week at the RSA Security Conference that reinforced the trends of strengthening demand, increased security spending amid digital transformation, and boards becoming more engaged around data breach risks and upcoming GDPR data protection regulations. Henderson says the company was one of the few to host an analyst meeting at the event, and its presentation provided a positive outlook for its technology, automation and new product flow. The analyst also cites the company's market share growth among the Fortune 50 companies, as 74% of these firms adopted Qualys Cloud Platform vs. 68% in year ago period.

Scotiabank initiated coverage of Qualys with a Sector Perform rating and $172 price target.