Check Point (CHKP – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Keith Bachman from BMO Capital maintained a Buy rating on the stock and has a $250.00 price target.
Keith Bachman has given his Buy rating due to a combination of factors that indicate Check Point’s strong performance and potential for growth. The company reported solid top-line results, particularly in product revenues, which showed significant growth and outperformed expectations. This marks the highest product revenue growth rate for Check Point in over a decade, demonstrating the company’s ability to thrive despite macroeconomic challenges.
Furthermore, Check Point’s management has maintained its fiscal year 2025 guidance, indicating confidence in the company’s future performance. The company’s billings and remaining performance obligations (RPO) also showed robust growth, suggesting a healthy pipeline and potential for accelerated activity in the coming quarters. Additionally, Check Point’s strategic positioning in the SASE market, supported by new leadership and strategic investments, enhances its prospects, making its valuation reasonable compared to its peers. These factors collectively support Bachman’s positive outlook and Buy rating for Check Point’s stock.
In another report released today, Robert W. Baird also maintained a Buy rating on the stock with a $255.00 price target.