UPDATE: Goldman Sachs Downgrades Checkpoint Software (CHKP) to Sell on Return Potential Relative to Peers

(Updated - March 5, 2020 6:28 AM EST)

(updating comment)

Goldman Sachs analyst Brian Essex downgraded Checkpoint Software (NASDAQ: CHKP) from Neutral to Sell with a price target of $100.00.

The analyst comments "Considering new hires in Sales & Marketing management and several years of elevated S&M investment, we have been waiting for indications of better traction in the market. However, our CIO Surveys and VAR Surveys have consistently reflected share loss and recent checks at RSA implied a lack of improvement. Considering this, along with the fact the stock has declined less than better performing peers during the most recent market pullback, we believe others within our coverage universe are better positioned for upside into the second half of 2020. As a result, we are trimming our estimates, lowering our price target to $100, and downgrading to Sell."

For an analyst ratings summary and ratings history on Checkpoint Software click here. For more ratings news on Checkpoint Software click here.

Shares of Checkpoint Software closed at $104.00 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Wolfe Research Downgrades Warner Brothers Discovery (WBD) to Underperform, 'out of concern that an incipient advertising downturn put guidance at risk'
• Goldman Sachs on Philip Morris (PM): 'we don't see a reason why the stock shouldn't outperform today'
• Raymond James Downgrades Western Digital Corp. (WDC) to Market Perform 'primarily on valuation'