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Qualys (QLYS) shares are trending slightly higher so far this month, showing around a 1% positive return over the past week. This comes at a time when the broader technology sector continues to face market volatility. Investors are keeping an eye on valuation and trends after recent pullbacks.

See our latest analysis for Qualys.

Zooming out, Qualys’s share price has slipped nearly 8% year-to-date but still posts a positive 1-year total shareholder return of around 6%. This reflects a mix of investor caution and enduring belief in its growth story. The momentum has faded recently, although its longer-term track record highlights an ability to deliver for shareholders.

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With Qualys trading below its analyst price target and fundamentals showing steady growth, the key question now is whether the stock is undervalued and offering potential upside, or if the market has already priced in future gains.

The current narrative fair value for Qualys lands at $141, which is noticeably higher than its last closing price of $128.05. This gap highlights ongoing optimism about the company’s prospects and sets the foundation for the key thinking driving this estimate.

Adoption of Qualys’ new cloud-native risk operations center (ROC) and Agentic AI platform positions the company as a leading pre-breach risk management provider. It offers unified orchestration, automation, and remediation across both Qualys and non-Qualys data. This opens incremental greenfield opportunities and should support higher ARPU and expanded TAM, leading to durable revenue and earnings growth.

Read the complete narrative.

What exactly propels this bullish narrative? Behind the ambitious price target are bold expectations about rising average customer spend, new platform launches and growing demand from global organizations. Want to see how much future growth, profit expansion and technology innovation must deliver in reality to make these numbers stack up? Find out what the consensus is betting on and what needs to go right by reading the full breakdown.

Result: Fair Value of $141 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, rapid AI innovation and new pricing models could disrupt Qualys’s momentum if competitors advance more quickly in development or if customer adoption trends unexpectedly shift.

Find out about the key risks to this Qualys narrative.

Looking at Qualys through the lens of its price-to-earnings ratio, we see some interesting contrasts. The company’s ratio sits at 25x, which is lower than the US Software industry average of 33.3x and well below its peer average of 45.1x. However, it is slightly above the fair ratio of 24.5x, suggesting the market may be pricing in a mild premium for future potential.

See what the numbers say about this price — find out in our valuation breakdown.

If you have a different perspective or want to dig into the figures on your own, you can build a narrative in under three minutes with Do it your way.

A great starting point for your Qualys research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include QLYS.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Palomar Holdings (PLMR) has been in the spotlight following a recent mix of cautious and optimistic signals from institutional investors. Changes in hedge fund positions, along with the completion of key reinsurance programs, have prompted renewed market attention.

See our latest analysis for Palomar Holdings.

After navigating a stretch of cautious sentiment related to reinsurance renewals and hurricane season risks, Palomar Holdings is showing more stable momentum. Its latest share price sits at $113.25, and while the short-term returns have been muted, the 1-year total shareholder return of 23.5% highlights growing long-term optimism despite recent volatility.

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With the stock trading below analyst price targets and showing solid revenue and income growth, the question remains: Is Palomar Holdings undervalued at current levels, or are investors already pricing in future momentum?

With Palomar Holdings closing at $113.25 versus the most popular narrative fair value of $153.33, the case for upside is compelling and getting attention as analyst expectations shift.

Ongoing investment in proprietary technology, data analytics, and advanced underwriting disciplines is improving risk assessment and pricing accuracy, already reflected in strong combined ratios and low loss ratios. This should continue to enhance underwriting profitability and expand net margins over time.

Read the complete narrative.

Curious about what’s behind this bullish fair value? The narrative hangs on rapid growth projections. One key assumption could be surprisingly aggressive. There’s a crucial forward valuation embedded here that you may not expect for an insurer. Dig in to discover the foundational numbers and the future profit model that could shake up price targets.

Result: Fair Value of $153.33 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, intensifying competition and Palomar’s reliance on catastrophe-exposed property lines could quickly shift profitability and challenge the current growth narrative.

Find out about the key risks to this Palomar Holdings narrative.

While the market’s favorite narrative points to a bargain, looking at the company’s price-to-earnings ratio offers a more cautious perspective. Palomar trades at 19.6 times earnings, which is notably higher than the US Insurance industry average of 13.5 times and a peer average of 13.8 times. The fair ratio, which is what the market could eventually gravitate toward, is just 16.2 times. This substantial gap suggests that Palomar’s shares could be at risk of a pullback if expectations shift. Could these elevated multiples limit future upside?

See what the numbers say about this price — find out in our valuation breakdown.

If you have a different perspective or want to dig deeper into Palomar Holdings’ story, you can build your own narrative in just a few minutes. Do it your way

A great starting point for your Palomar Holdings research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include PLMR.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

• Bitdeer Technologies Group recently announced unaudited operating results for September 2025, reporting that it mined 452 Bitcoins, a rise of approximately 20.5% from August, driven by increased self-mining capacity following the energization of SEALMINERs.

• This operating update comes as sector optimism grows, with attention on data center demand and AI-driven computing partnerships possibly benefiting industry players like Bitdeer.

• With Bitdeer’s self-mining gains and momentum in high-performance computing demand, we’ll assess how these developments affect the company’s broader investment narrative.

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To be a shareholder in Bitdeer Technologies Group, one needs to believe in the company’s ability to scale its self-mining capacity and commercialize its proprietary ASIC technology amid rising demand for high-performance computing. The recent news of a 20.5% increase in Bitcoin mined boosts short-term confidence, but it does not materially change the core catalyst, growing revenue and margins from ASIC commercialization, nor does it reduce the key risk of persistent losses and high operating expenses.

The September operating update most directly ties to the recent launch of the SEALMINER A3 series, which underpins Bitdeer’s growth in self-mining hashrate and supports the narrative around technological advancement improving capital efficiency. As Bitdeer pushes further into ASIC development and ramp-up, this connection highlights how delivering on technical improvements remains intertwined with realizing forecast revenue growth and addressing margin pressures.

However, despite these production gains, investors should not overlook the risk stemming from high operating expenses and ongoing losses, especially if future ASIC sales do not keep pace with growing costs…

Read the full narrative on Bitdeer Technologies Group (it’s free!)

Bitdeer Technologies Group’s narrative projects $1.8 billion revenue and $343.9 million earnings by 2028. This requires 71.6% yearly revenue growth and a $664.2 million increase in earnings from the current -$320.3 million.

Uncover how Bitdeer Technologies Group’s forecasts yield a $28.05 fair value, a 21% upside to its current price.

Seven individual fair value estimates from the Simply Wall St Community for Bitdeer span US$18.55 to US$324.62, highlighting a broad spectrum of conviction. With high expenses a persistent concern, you can explore how fellow investors weigh these risks before forming your outlook.

Explore 7 other fair value estimates on Bitdeer Technologies Group – why the stock might be worth 20% less than the current price!

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include BTDR.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Aurora Innovation (AUR) shares have edged slightly higher recently, following a modest uptick of about 2% in the last day and smaller gains over the past week. Investors seem to be weighing the company’s performance during the month, as Aurora continues its work in autonomous vehicle technology.

See our latest analysis for Aurora Innovation.

Zooming out, Aurora Innovation’s 1-year share price return is still down double digits, while its three-year total shareholder return remains notably positive. After a recent stretch of modest gains, momentum is still searching for its footing as investors gauge the company’s long-term roadmap and evolving risk profile.

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With shares trading well below analyst price targets and impressive long-term gains in the rearview, investors now face a critical question: Is Aurora a bargain poised for growth, or is the market already factoring in its future potential?

At a price-to-book ratio of 4.8x, Aurora Innovation trades below its peer average of 5.9x based on this valuation measure. This suggests the stock is relatively more attractively priced compared to similar companies. With the last close at $5.15, this indicates the market is discounting Aurora relative to its book value more than its immediate peer group.

The price-to-book ratio compares a company’s market value to its net asset value. This metric is particularly relevant for asset-light and high-growth sectors like software and autonomous vehicles. For Aurora, this ratio reflects what investors are willing to pay for the company’s equity compared to the book value recorded on its balance sheet.

This valuation suggests investors may be skeptical about Aurora’s path to profitability or are discounting near-term challenges, despite the sector’s broader appetite for growth. However, the company’s price-to-book still remains higher than the US Software industry average of 4x. This signals the market may still be assigning a premium for its technology or future prospects relative to the average US software company, though less so compared to its closest peers.

See what the numbers say about this price — find out in our valuation breakdown.

Result: Price-to-Book of 4.8x (UNDERVALUED compared to peers)

However, continued net losses and uncertainty around the company’s path to profitability remain challenges that could weigh on future share performance.

Find out about the key risks to this Aurora Innovation narrative.

While the price-to-book ratio offers one angle on Aurora’s value, the SWS DCF model provides a different perspective. According to our DCF analysis, Aurora shares are currently trading about 37.8% below our estimate of their fair value. This suggests a considerable undervaluation if you believe the model’s assumptions.

Look into how the SWS DCF model arrives at its fair value.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Aurora Innovation for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.

If you see the story differently or want to dig into the numbers yourself, you can craft your own take in just a few minutes with Do it your way.

A great starting point for your Aurora Innovation research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include AUR.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com