Checkpoint (CHKP) Downgraded as Faces Competition from Palo Alto (PANW)
Tweet
Share
E-mailGet Alerts CHKP Hot Sheet
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
Join SI Premium – FREE
Needham & Company downgraded Checkpoint Software (NASDAQ: CHKP) from Buy to Hold. Based on Needham’s field checks, questions arose about the future upside revenue potential for Check Point.
"It is important to note that while our field checks raised questions about the future, we did not hear of current difficulty in the field. In fact, we believe spending for CHKP and network security, overall, is solid," said analyst Scott Zeller.
The worrisome question, in Zeller’s view, is what happens next year when Check Point tries to sell its blade offerings into its installed base, and new competitors are sharing the environment with Check Point.
"In particular, we believe the increasing footprint of Palo Alto Networks (NYSE: PANW ) may create a situation that takes away ‘follow-on revenue’ from the existing Check Point installed base," he said.
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 $45.61 yesterday.
"It is important to note that while our field checks raised questions about the future, we did not hear of current difficulty in the field. In fact, we believe spending for CHKP and network security, overall, is solid," said analyst Scott Zeller.
The worrisome question, in Zeller’s view, is what happens next year when Check Point tries to sell its blade offerings into its installed base, and new competitors are sharing the environment with Check Point.
"In particular, we believe the increasing footprint of Palo Alto Networks (NYSE: PANW ) may create a situation that takes away ‘follow-on revenue’ from the existing Check Point installed base," he said.
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 $45.61 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
- Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
- New Street Research Upgrades Micron Technology (MU) to Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, DowngradesRelated Entities
Needham & CompanySign 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!
