UBS Maintains a 'Buy' on Checkpoint Software (CHKP); Mixed Q1; Miss Overshadows Strong Margins

UBS maintains a 'Buy' on Checkpoint Software (NASDAQ: CHKP) price target raised $1 to $69.

Analyst, Brent Thill, said, "Our industry checks remain healthy so we chalk up product miss on Q1 seasonality and on the margin increased competition. However CHKP has remained highly innovative so product revs should accelerate post Q1 blues and ST deferred -1.1% q/q was inline with 4-year seasonal - 1.0% so the billings miss came predominately from volatile LT deferred. CHKP remains a good growth story with the potential to more aggressively distribute cash to shareholders in 2013."

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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