QLYS - 1 Little-Known Cybersecurity Stock Investors Should Be Watching for 2024

2024-03-10 10:00:00 ET

Cybersecurity heavyweights are locked in a war of words. During a recent round of conference calls, and later in follow-ups on Twitter/X, CEOs from Palo Alto Networks (NASDAQ: PANW) and CrowdStrike Holdings (NASDAQ: CRWD) both took shots at competitors , including each other. CrowdStrike CEO George Kurtz even name-dropped Palo Alto in his prepared remarks , even though the two juggernauts don't directly compete in their core businesses of network security (Palo Alto) and endpoint security (CrowdStrike).

Meanwhile, smaller players are delivering solid, profitable growth in the background. One of those cybersecurity providers is Qualys (NASDAQ: QLYS) , which just reported another round of consistent financial results. The stock has doubled in the last five years, even after a recent sell-off. Here's what investors should know about Qualys for 2024 and beyond.

Qualys offers a cloud-based set of software tools that help organizations with security compliance . It scans for security vulnerabilities and suggests fixes to weaknesses it finds. As IT infrastructure has gotten more complicated with a mix of legacy internal networks and public cloud, the number of devices and apps large businesses need to track and keep secure has ballooned. The Qualys platform can play an integral role in a company's cybersecurity efforts.

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