2024-02-06 12:37:06 ET
Summary
- Qualys is losing Microsoft as a VMDR client, which will have a significant impact on its revenue in 2024.
- The company's business model relies on both direct customers and customers through partners, with partner revenue growing at a faster rate.
- Despite strong cash flow and performance metrics, Qualys will face challenges in replacing the lost revenue from Microsoft.
- My near-term outlook on QLYS is to Sell.
Investment Outlook
I previously wrote about Qualys (QLYS) in August 2023 with a Hold outlook due to slowing sales cycles....
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Qualys Faces Tough 2024 As Revenue Growth Will Sag (Downgrade)