Analyst Shrenik Kothari from Robert W. Baird maintained a Buy rating on Check Point (CHKP – Research Report) and keeping the price target at $255.00.
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Shrenik Kothari has given his Buy rating due to a combination of factors including Check Point’s strategic shift under new leadership and potential growth opportunities. The company is transitioning from a traditional firewall-centric model to a comprehensive security platform, integrating new technologies like SASE and Harmony, which are expected to drive future growth.
Additionally, the new CEO, Nadav Zafrir, has invigorated the organization by streamlining operations and enhancing decision-making processes, which is likely to improve execution and agility. The company’s focus on expanding its SASE offerings and its efforts to enhance product innovation while maintaining strong operating margins further support the positive outlook. These strategic initiatives, coupled with a promising sales pipeline, suggest potential for growth acceleration that is not yet reflected in the current valuation.
In another report released on May 27, TD Cowen also reiterated a Buy rating on the stock with a $285.00 price target.