UPDATE: Credit Suisse Reiterates Neutral Rating, Raises PT on Qualys Following Q4 Results

In a report published Tuesday, Credit Suisse analyst Philip Winslow reiterated a Neutral rating on

, and raised the price target from $25.00 to $35.00. In the report, Credit Suisse noted, "Qualys reported Q4 results of EPS of $0.15 and $36.6 million in revenue versus consensus expectations of EPS of $0.09 and $36.0 million in revenue (our estimates of $0.10 in EPS and $35.9 million in revenue). The company reported operating margin of 20.9% versus consensus expectations of 9.7% (our estimate of 11.3%). Qualys guided for 2015 revenue and EPS of $167.3-169.3 million and $0.50-0.55, respectively, compared to consensus of $160.6 million and $0.50. For 2015, we are revising our revenue and EPS estimate to $168.2 million and $0.53 from $166.3 million and $0.57, respectively. We reiterate our Neutral rating and raise our target price from $25 to $35, which implies a NTM EV/revenue multiple of 6.8x." Qualys closed on Monday at $40.85.