On Oct 31, major Wall Street analysts update their ratings for $Check Point Software (CHKP.US)$, with price targets ranging from $183 to $220.
Morgan Stanley analyst Hamza Fodderwala maintains with a hold rating, and adjusts the target price from $144 to $183.
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.
Furthermore, according to the comprehensive report, the opinions of $Check Point Software (CHKP.US)$'s main analysts recently are as follows:
The firm's projection for Check Point reflects a tempered billings outcome in Q3. Looking forward, the anticipation is for a high-single digit expansion in Q4, as the delayed transactions may contribute 3 points to growth, and Cyberint could potentially add another point. Additionally, the analyst forecasts approximately 5% growth for FY25, acknowledging that future comparisons may present more challenging scenarios.
The company's third-quarter billings fell short of consensus estimates. However, if adjustments are considered, there would have been a slight improvement in billings growth compared to the previous quarter. The growth in Subscription revenue did not meet expectations, attributed to underwhelming performance in the cloud and endpoint security sectors. To view the company's prospects more favorably, a thorough evaluation of the potential for Cyberint, Perimeter 81, and Harmony Email/Avanan against the additional weaknesses observed in cloud and endpoint security subscriptions would be necessary.
Q3 results for Check Point were a combination of positives and negatives, with billings falling slightly short of consensus expectations due to the deferment of deals in Europe, despite a 4% year-over-year increase in product revenue.
The company experienced a growth of 6% in Q3 billings, falling short of the anticipated 8% consensus estimates and a 10% expectation by others, with a portion of the shortfall attributed to deals that were postponed to Q4. The long-term potential for Check Point is still evident, but investors may rightfully harbor concerns about the near-term outlook considering the Q3 underperformance coupled with a prudent Q4 budget outlook.
Here are the latest investment ratings and price targets for $Check Point Software (CHKP.US)$ from 9 analysts:
Note:
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