Piper Sandler upgraded Check Point Software to Neutral from Underweight with a price target of $125, up from $118. While elongated refresh projects and billings duration continued to be a headwind in Q3, “incremental positives” in the quarter – including annualized bookings growth, emerging signs of firewall demand bottoming in Q2 and continued traction with Infinity – help the firm feel “more balanced about the forward outlook,” the analyst tell investors. In addition, recent acquisitions should help bolster the product offering, the analyst contends.
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Read More on CHKP:
- Check Point ups FY23 EPS view to $8.20-$8.40 from $7.70-$8.30, consensus $8.16
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- Check Point reports Q3 adjusted EPS $2.07, consensus $2.02