Check Point Software Technology (CHKP): Expecting Midpoint Or Better Results - Oppenheimer
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Oppenheimer analyst, Shaul Eyal, reiterated his Outperform rating on shares of Checkpoint Software (NASDAQ: CHKP) following quarter-end checks with 25 Value Added Resellers (VARs).
The analyst expects the company to report results in line with its mid-point revenue guidance of $420M (up 4.1% YoY).
Key takeaways: 1) solid traction of CHKP's recently introduced high-end appliances (23800 &15600)
2) consistent European (36%) and US (48%) performance
3) easing maintenance discounting pressure that reflected negatively on 2Q results
4) the company's subscription-base-driven business model lending itself to high levels of predictability and profitability
5) customers' ongoing shift toward vendor consolidation as well as platform adoption.
At 14.2X FY18E EPS (ex-cash), CHKP offers 22% upside potential to the analyst's unchanged, $94 PT.
Earnings are expected 10/31 (pre-open).
Shares of Checkpoint Software closed at $77.76 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Cuts Price Target on ResMed (RMD) to $56 Following 1Q Miss
- UBS Raises Price Target on Zions Bancorp (ZION) to $29 Following 3Q EPS Beat
- UPDATE: CommVault Systems (CVLT) PT to $62 at Mizuho Following Strong Q2
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesEarnings, Pre Market Movers
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!