Checkpoint (CHKP) Investor Roadshow Takeaways - Oppenheimer

Oppenheimer analyst, Shaul Eyal, hosted Checkpoint Software (NASDAQ: CHKP) management on an investor roadshow and came away with 5 key thoughts:

1. The company remains well positioned to benefit from positive trends within the cyber security arena and is seeing no change within the competitive arena

2. Recent product introductions are adding to an expanding product portfolio that could accelerate growth over the next 1-3 years

3. Investments to accelerate growth are tracking in line with original plans

4. Unlike numerous security companies, CHKP is detecting no change in market demand trends

5. CHKP will likely continue allocating cash toward buybacks and tuck-in M&A.

The believe the growing focus on Cloud deployments (Hyperwise), End Point (Lacoon) and APT (Sandblast) expands CHKP's reach within its enterprise customers.

In a security market which is consolidating towards a handful of end-to-end platform providers, they view CHKP as remaining well positioned vs. legacy providers as well as next-gen runner ups.

At 13.8X expected FY16E EPS (ex ~$20 cash per share), CHKP remains attractively valued and its fundamentals are solid.

The firm maintained an Outperform rating and price target of $95.00.

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 $82.11 yesterday.

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