Check Point (CHKP) Receives a Buy from Cowen & Co.

Cowen & Co. analyst Shaul Eyal maintained a Buy rating on Check Point (CHKPResearch Report) today and set a price target of $164.00. The company’s shares closed last Monday at $119.09.

According to TipRanks.com, Eyal is a top 25 analyst with an average return of 26.9% and a 67.5% success rate. Eyal covers the Technology sector, focusing on stocks such as Evolv Technologies Holdings, CrowdStrike Holdings, and Palo Alto Networks.

The word on The Street in general, suggests a Hold analyst consensus rating for Check Point with a $139.44 average price target, implying a 17.0% upside from current levels. In a report issued on July 20, Bank of America Securities also upgraded the stock to Buy with a $140.00 price target.

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Based on Check Point’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $543 million and net profit of $169 million. In comparison, last year the company earned revenue of $508 million and had a net profit of $183 million.

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Check Point Software Technologies Ltd. engages in the development and market of software and hardware solutions for information technology security. The company products include threat prevention, next generation firewalls, mobile security, and security management. Its solutions cater to the following: point of sale systems, automated teller machines, private and public cloud, and telecommunications providers. The company was founded by Gil Shwed, Marius Nacht, and Shlomo Kramer in July 1993 and is headquartered in Tel Aviv, Israel.

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