Needham & Company Reiterates a 'Buy' on Checkpoint Software (CHKP); Adjusting Estimates After In-line Quarter
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Price: $131.72 -1.87%
Rating Summary:
17 Buy, 30 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 30 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Checkpoint Software (NASDAQ: CHKP) price target of $70.00.
Analyst, Scott Zeller, said, "The Check Point MarQ results were in line, and guidance was typically conservative. In the current climate, we believe investors are taking profits unless there is a strong beat and/or “guide up” (see VMW’s strong quarter last week). We believe investors and analysts are focusing on the bookings (revenue + chg deferred revenue) at the company, which at -33% q/q for MarQ were down more sharply than last year’s -28% q/q figure for MarCY11...With recent tax law changes, it is possible CHKP may begin to use its sizeable cash balance of $14.69/share for a more aggressive buyback, which could be a catalyst for shares, as well." (Needham lowers FY12 EPS estimate from $3.22 to $3.20, but raises FY13 from $3.56 to $3.60)
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 $60.76 yesterday.
Analyst, Scott Zeller, said, "The Check Point MarQ results were in line, and guidance was typically conservative. In the current climate, we believe investors are taking profits unless there is a strong beat and/or “guide up” (see VMW’s strong quarter last week). We believe investors and analysts are focusing on the bookings (revenue + chg deferred revenue) at the company, which at -33% q/q for MarQ were down more sharply than last year’s -28% q/q figure for MarCY11...With recent tax law changes, it is possible CHKP may begin to use its sizeable cash balance of $14.69/share for a more aggressive buyback, which could be a catalyst for shares, as well." (Needham lowers FY12 EPS estimate from $3.22 to $3.20, but raises FY13 from $3.56 to $3.60)
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 $60.76 yesterday.
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