William Blair analyst Jonathan Ho has maintained their bullish stance on CHKP stock, giving a Buy rating today.
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Jonathan Ho’s rating is based on Check Point’s ability to exceed consensus expectations for revenue and pro forma EPS, despite a mixed quarter. The company demonstrated strength in its newer product areas, such as email security and enterprise risk management, which contributed positively to its performance. Additionally, Check Point’s traditional firewall business, led by Quantum appliances, showed robust demand.
Despite the disappointment in billings growth, attributed to a back-end loaded quarter and deal slippages, Check Point maintained its guidance and showed strong product and subscription revenue. The company is in a transition phase, taking steps to improve its market approach and product speed, which is expected to yield results over time. Investors are advised to be patient as the company works towards achieving its growth targets, with a reiterated guidance for 2025 indicating a positive outlook.
Ho covers the Technology sector, focusing on stocks such as Fastly, Akamai, and Palo Alto Networks. According to TipRanks, Ho has an average return of 10.2% and a 59.48% success rate on recommended stocks.
In another report released today, Robert W. Baird also maintained a Buy rating on the stock with a $245.00 price target.