Oppenheimer Provides Insights on Check Point Software Technolgies Ltd. (CHKP) Earnings

Oppenheimer analyst Shaul Eyal weighs in on Check Point Software Technologies Ltd. (NASDAQ:CHKP) following the company’s 2Q16 earnings report. He reiterates an Outperform rating for the stock with a price target of $95.00.

According to the analyst, “CHKP reported 2Q16 revenue of $423M (up 7% year over year), ahead of consensus’ $421.6M forecast. EPS of $1.09 beat consensus’ $1.07E on better operating margins of 54% vs. the Street’s 53.6% view. Billings, at $432M (up 7% yoY), exceeded the Street’s $425M estimate, reflecting healthy closure rates.”

Eyal affirms that these results instill a positive sentiment and lead to his belief that FY16 revenue guidance can easily be reiterated. The analyst believes that CHKP’s solid 2Q results are highly positive for the security software landscape.

Shaul Eyal is ranked #54 of 4,079 analysts on TipRanks. He maintains a success rate of 63% and realizes an average return of 10.9%.

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