Mizuho Securities analyst Gregg Moskowitz maintained a Hold rating on Check Point (CHKP – Research Report) on March 27 and set a price target of $160.00.
Gregg Moskowitz has given his Hold rating due to a combination of factors surrounding Check Point’s market positioning and financial performance. While recognizing Check Point’s strong positioning in the network security market and its potential for growth in its security subscription business, Moskowitz points out that the company is facing challenges in market share retention. Despite the positive indicators, such as the launch of the new Quantum Force appliance and the promising partnership with NVDA, there is a concern regarding the company’s ability to execute consistently in the current operating environment.
The report also acknowledges Check Point’s success in driving security subscription activity and the acceleration of subscription revenue growth in the previous year. The management’s optimistic view on the future growth of subscription revenue and the positive impact of the recent acquisition of Perimeter 81 are noted as potentially positive developments. Nevertheless, Moskowitz remains cautious due to the company’s historical market share erosion and the need for a more substantial improvement in the operating environment before becoming more positive on the stock. Therefore, the Hold rating reflects a balanced view of Check Point’s opportunities and the challenges it faces.
CHKP’s price has also changed moderately for the past six months – from $132.800 to $164.150, which is a 23.61% increase.
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Check Point (CHKP) Company Description:
Check Point Software Technologies Ltd. engages in the development and market of software and hardware solutions for information technology security. The company products include threat prevention, next generation firewalls, mobile security, and security management. Its solutions cater to the following: point of sale systems, automated teller machines, private and public cloud, and telecommunications providers. The company was founded by Gil Shwed, Marius Nacht, and Shlomo Kramer in July 1993 and is headquartered in Tel Aviv, Israel.
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