In a report released yesterday, Kenneth Talanian from Evercore ISI maintained a Hold rating on Check Point (NASDAQ: CHKP), with a price target of $104. The company’s shares closed yesterday at $108.33.
Talanian wrote:
“We believe this suggests progress towards normalizing topline growth. Though mgmt cited a “goal” of positive product growth at some point, we envision the line will continue to decline y/y for the foreseeable future. Any inflection to product growth would be a significant positive surprise, in our view.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 15.2% and a 66.7% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, FireEye Inc, and Autodesk.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Check Point with a $122.20 average price target, a 12.8% upside from current levels. In a report issued on October 17, Robert W. Baird also initiated coverage with a Hold rating on the stock with a $115 price target.
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Based on Check Point’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $198 million. In comparison, last year the company had a net profit of $193 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. Its products include threat prevention, next generation firewalls, mobile security, and security management.
