Qualys, Inc. (QLYS - Free Report) recently announced that its Cloud Security Assessment (CSA) App will now feature real-time automated compliance monitoring and assessment capabilities for CIS (Center for Internet Security) Microsoft (MSFT - Free Report) Azure Foundations Benchmark that aids in the identification of constant threats by security and DevOps teams.
Automated assessment of CIS Microsoft Azure Foundations Benchmark enables organizations to scale compliance and manage risk across Azure cloud investments.
The Qualys Cloud Platform enables customers to have a unified view of IT, security and compliance across on-premise assets, endpoints, clouds, containers, and web applications. This simplifies the security monitoring process at a significantly lower cost.
Apart from its own cloud platform, Qualys also offers native integrations with third-party cloud platforms like Microsoft Azure, Google Cloud and Amazon Web Services, for full visibility.
Qualys Strengthening Cloud Security Capabilities
In further efforts to expand its security offerings on Microsoft Azure, Qualys has announced that it integrated with Microsoft Azure Stack that provides a unified view of the security and compliance position of Microsoft Azure infrastructure and user workloads.
Qualys, a leading provider of cloud security and compliance solutions, is riding on strong adoption of CloudAgent, one of the sensors of the Qualys Cloud Platform. Specifically, CloudAgent subscription reached 8.1 million, up 11% year over year.
Qualys’ rich experience in cloud security is helping it maintain and grow its market share in the cybersecurity space.
Per Gartner, worldwide spending on IT security will reach $96 billion in 2018 from $89 billion in 2017. Meanwhile, Markets and Markets suggests that cybersecurity market is expected to grow at a CAGR of 11% during 2017-2022. These predictions bode well for Qualys.
Cloud Market Looks Promising
Prospects for the company continue to look promising due to predictions on the cloud computing market by leading research firms.
Per MarketsandaMarkets, the global hybrid cloud market size is expected to grow at a CAGR of 17.0% during 2018-2023, mainly driven by growing demand for scalable and cost-efficient computing; rising need for more efficient interoperability between cloud services and existing systems; and digital transformation across all industries.
Competition Remains a Concern
However, the company faces significant competition from leading cybersecurity companies like Fortinet (FTNT - Free Report) , which is also seeking to expand security offerings. Recently, Fortinet announced that it is expanding offerings on Microsoft Azure to enhance protection of customers’ hybrid cloud environments.
Nonetheless, with continued efforts to enhance capabilities, Qualys is well positioned to face competition and maintain its market share. Notably, the company’s shares have outperformed the industry’s rally of 12.8%, with an average return of 52.5% on a year-to-date basis.
Zacks Rank and A Key Pick
Qualys currently carries a Zacks Rank #2 (Buy).
Another top-ranked stock in the broader Computer and Technology space is Radware Ltd. (RDWR - Free Report) and sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth projection for Radware is 19%.
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