Robert W. Baird analyst Shrenik Kothari has maintained their bullish stance on CHKP stock, giving a Buy rating today.
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Shrenik Kothari has given his Buy rating due to a combination of factors that suggest a positive outlook for Check Point Software Technologies. Despite a mixed performance in the second quarter, the company has shown promising signs for future growth. Management’s confidence in closing deal slippages early in the third quarter, along with a strong pipeline and traction in underpenetrated markets, indicates potential for an upward trajectory.
Additionally, Check Point’s strategic investments in Secure Access Service Edge (SASE) and their Quantum Force AI-powered firewalls are expected to drive growth. The company’s approach to bundling deals, despite causing a slight deceleration in subscription revenue, is seen as a positive move towards creating stickier customer relationships and expanding their install base. This positions Check Point for increased renewal and upsell opportunities, supporting the Buy rating.
In another report released today, TD Cowen also reiterated a Buy rating on the stock with a $285.00 price target.