Andrew Nowinski, an analyst from Wells Fargo, reiterated the Buy rating on Check Point. The associated price target remains the same with $265.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Andrew Nowinski has given his Buy rating due to a combination of factors that suggest potential growth for Check Point Software Technologies. The company is expected to show modest improvements in subscription revenue, RPO, and billings, despite facing challenging comparisons. This optimism is partly driven by an increase in large-deal activity, particularly from new clients, which is anticipated to positively impact RPO and billings.
Furthermore, Nowinski highlights the importance of subscription revenue growth, which has been decelerating but could see an uptick due to the ongoing firewall refresh cycle and the growing adoption of the Harmony email solution. The analyst also notes that while billings have been a key metric, the company might still achieve a stable growth rate, potentially exceeding consensus expectations. These factors collectively support the Buy rating for Check Point’s stock.
In another report released on July 16, BMO Capital also maintained a Buy rating on the stock with a $250.00 price target.