FBR Capital Maintains an 'Outperform' on Checkpoint Software (CHKP); Delivers Strong 2Q and Gives Very Healthy Outlook
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Price: $153.07 -4.93%
Rating Summary:
18 Buy, 27 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
Rating Summary:
18 Buy, 27 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
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FBR Capital maintains an 'Outperform' on Checkpoint Software (NASDAQ: CHKP), raises PT from $58 to $63.
FBR analyst says, "This morning, Check Point delivered a strong F2Q11 (June) that yet again beat our and Street expectations, as the company's strong product cycle and stellar execution are translating into positive momentum in the field. As evidenced by these results, the company continues to be an “under-promise and over-deliver” specialist, a dynamic that speaks to its ability to accelerate deal signings in the field on the heels of strong company-specific (product cycle-software blades, execution acumen) and favorable secular trends..."
"For F3Q11 (September), we are increasing our total revenue and pro forma EPS estimates to $306.4 million and $0.69, versus our prior estimates of $301.0 million and $0.68, respectively. For FY11, we are increasing our respective total revenue and EPS estimates to $1.23 billion and $2.81 from $1.22 billion and $2.75. For FY12, we are raising our total revenue and pro forma EPS estimates to $1.35 billion and $3.04 from $1.34 billion and $2.99, respectively."
For more ratings news on Checkpoint Software click here and for the rating history of Checkpoint Software click here.
Shares of Checkpoint Software closed at $56.58 yesterday.
FBR analyst says, "This morning, Check Point delivered a strong F2Q11 (June) that yet again beat our and Street expectations, as the company's strong product cycle and stellar execution are translating into positive momentum in the field. As evidenced by these results, the company continues to be an “under-promise and over-deliver” specialist, a dynamic that speaks to its ability to accelerate deal signings in the field on the heels of strong company-specific (product cycle-software blades, execution acumen) and favorable secular trends..."
"For F3Q11 (September), we are increasing our total revenue and pro forma EPS estimates to $306.4 million and $0.69, versus our prior estimates of $301.0 million and $0.68, respectively. For FY11, we are increasing our respective total revenue and EPS estimates to $1.23 billion and $2.81 from $1.22 billion and $2.75. For FY12, we are raising our total revenue and pro forma EPS estimates to $1.35 billion and $3.04 from $1.34 billion and $2.99, respectively."
For more ratings news on Checkpoint Software click here and for the rating history of Checkpoint Software click here.
Shares of Checkpoint Software closed at $56.58 yesterday.
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