Qualys (QLYS) stock surged 16.71% in pre-market trading on Wednesday, following the company's impressive third-quarter results and raised full-year guidance. The cybersecurity firm's strong performance prompted several analyst upgrades and price target increases, further fueling investor optimism.

Qualys reported Q3 non-GAAP earnings per share of $1.86, significantly surpassing the FactSet consensus estimate of $1.56. Revenue for the quarter came in at $169.9 million, exceeding analyst expectations of $166.3 million. The company's robust financial performance demonstrated its ability to execute effectively in the competitive cybersecurity market.

In response to the strong results, Qualys raised its full-year 2025 guidance. The company now expects non-GAAP EPS of $6.93 to $7.00, up from the previous range of $6.20 to $6.50. Revenue projections were also increased to $665.8 million to $667.8 million, compared to the earlier forecast of $656 million to $662 million. This upward revision in guidance suggests management's confidence in Qualys' continued growth and market position.

The positive news prompted several analysts to revise their outlook on Qualys. Notably, Piper Sandler upgraded the stock from Underweight to Neutral, raising its price target to $135 from $115. Northland took an even more bullish stance, upgrading Qualys to Outperform from Market Perform and increasing its price target to $162 from $150. Other firms, including Canaccord Genuity, JP Morgan, and UBS, also raised their price targets, reflecting growing confidence in Qualys' prospects.