Qualys Inc. (QLYS) saw its stock price plummet 5.22% during intraday trading on Friday, as the cybersecurity company faced a wave of negative analyst sentiment.

The sharp decline followed price target reductions from several major financial institutions. RBC Capital Markets trimmed its target to $134 from $140, while Berenberg made a significant cut to $132 from $165. Other firms including Scotiabank, Canaccord Genuity, Jefferies, DA Davidson, and JPMorgan also lowered their price targets on Qualys shares.

These coordinated analyst actions reflect growing concerns about Qualys' near-term prospects and valuation, prompting investors to reevaluate their positions in the security software provider during the trading session.