Evercore ISI analyst Kenneth Talanian maintained a Hold rating on Check Point (CHKP) yesterday and set a price target of $105. The company’s shares opened today at $119.59, close to its 52-week high of $121.57.
Talanian wrote:
“We continue to believe that decisions to switch vendors within the enterprise security space are not made lightly. Over time, however, we believe that enhancements to a vendor’s solution line-up (e.g. CHKP’s Maestro) can help retain customers (at least temporarily) who might otherwise shift away thereby slowing share shift. With the Maestro offering officially available on February 1, 2019 it may take some time before the impact (if any) is realized. While it is certainly possible that new customers leverage this technology, we envision that most growing organizations in need of a scalable solution will start with an IaaS offering (e.g. AWS, Azure, Google Cloud).”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 20.1% and a 82.7% success rate. Talanian covers the Technology sector, focusing on stocks such as CyberArk Software, Proofpoint Inc, and Symantec Corp.
Currently, the analyst consensus on Check Point is a Moderate Buy with an average price target of $120.17.
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Based on Check Point’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $238 million. In comparison, last year the company had a net profit of $239 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.
