On Oct 30, major Wall Street analysts update their ratings for $Check Point Software (CHKP.US)$, with price targets ranging from $185 to $220.
BofA Securities analyst Tal Liani downgrades to a hold rating, and adjusts the target price from $185 to $195.
Barclays analyst Saket Kalia maintains with a hold rating, and adjusts the target price from $210 to $200.
Jefferies analyst Joseph Gallo maintains with a buy rating, and maintains the target price at $220.
Evercore analyst Peter Levine initiates coverage with a hold rating, and sets the target price at $185.
TD Cowen analyst Shaul Eyal maintains with a buy rating, and maintains the target price at $215.
Furthermore, according to the comprehensive report, the opinions of $Check Point Software (CHKP.US)$'s main analysts recently are as follows:
Check Point's reported billings in Q3 were below expectations. It is anticipated that high-single digit growth could occur in Q4 due to previously delayed deals potentially contributing 3 points to growth, along with a further point from Cyberint. The expectation is to model approximately 5% growth for FY25 as comparisons become more challenging.
The firm anticipates potential fundamental enhancements ahead of the Q3 report and is awaiting confirmation before adopting a more positive stance. The transition to a new CEO, a pivot towards faster-growing segments, the introduction of a new quantum product cycle, and more favorable comparative metrics are seen as possible factors that could underpin improved growth.
The third quarter showed a blend of outcomes, with billings falling short of the consensus by a small margin, attributed to delays in European transactions. Nonetheless, there was a notable 4% year-over-year growth in product revenue.
The company's Q3 billings growth of 6% fell short of the anticipated 8% by consensus and an even more optimistic expectation of about 10% among some investors. This shortfall was partly due to certain deals that were delayed to Q4, accounting for a five percentage point impact. Despite this, the long-term prospects for Check Point remain evident, but investors may rightfully harbour concerns about the company's short-term outlook in light of the Q3 performance and reserved Q4 budget discussions.
Here are the latest investment ratings and price targets for $Check Point Software (CHKP.US)$ from 13 analysts:
Note:
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