BMO Capital analyst Keith Bachman lowered the firm’s price target on Check Point to $151 from $152 and keeps an Outperform rating on the shares. The quarter was slightly disappointing with weak billings guidance and FY23 margin outlook offsetting increased buybacks and a reasonable FY23 revenue guidance, the analyst tells investors in a research note. Check Point will likely need to demonstrate revenue growth above recent levels to move shares closer to the firm’s price target, though valuations on the stock are "attractive", the firm adds.
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Read More on CHKP:
- Check Point Software Launches Infinity Spark to Protect Small and Medium Businesses with Consolidated, Enterprise Grade Security and Connectivity to Boost Employee Productivity
- Check Point price target lowered to $129 from $130 at Citi
- Check Point initiated with a Buy at Goldman Sachs
- Check Point price target lowered to $150 from $155 at FBN Securities
- Check Point sees Q1 adjusted EPS $1.68-$1.78, consensus $1.75