Qualys (QLYS) shares surged 13.03% over the past 24 hours, driven by a strong second-quarter earnings report that exceeded Wall Street expectations and an upward revision of the company's full-year outlook.

The cloud security provider reported Q2 adjusted earnings per share of $1.98, surpassing the analyst consensus estimate of $1.78. Revenue rose 11% year-over-year to $182.2 million, also beating the $178.6 million estimate. The company attributed the performance to ongoing innovation in AI-enabled security solutions, a growing federal pipeline of new business, and robust partner-led execution.

Qualys raised its full-year 2026 revenue guidance to a range of $732 million to $738 million, up from the prior $721 million to $727 million, and lifted its adjusted EPS forecast to $7.74-$7.88. The results and bullish outlook prompted several analysts to raise their price targets on the stock, further fueling the rally.