Evercore ISI analyst Kenneth Talanian assigned a Hold rating to Check Point (NASDAQ: CHKP) today and set a price target of $100. The company’s shares closed yesterday at $110.67.
Talanian noted:
“We believe execution issues and attrition within the Americas sales force is the main cause of the deceleration though the company may continue to see incremental competitive share loss. On the most recent earnings call, management noted making changes to the sales force starting in 2Q17 with the expectation of changes continuing into 2Q18. Our checks this quarter were mixed in terms of partner feedback on this issue; some saw improvement in the sales force while others saw the status quo maintained.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 21.2% and a 78.8% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Symantec Corp, and FireEye Inc.
Check Point has an analyst consensus of Moderate Buy, with a price target consensus of $106.38, a -3.9% downside from current levels. In a report issued on July 13, Stephens also reiterated a Hold rating on the stock with a $110 price target.
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Based on Check Point’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $187 million. In comparison, last year the company had a net profit of $188 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.
