Checkpoint Software (CHKP) PT Raised to $210 at Baird

Baird analyst Shrenik Kothari raised the price target on Checkpoint Software (NASDAQ: CHKP) to $210.00 (from $200.00) while maintaining a Neutral rating.

The analyst commented: "CHKP’s setup and channel checks suggest solid positioning into CY25, driven by an expanding platform-motion and refresh-cycle upside. Easier billings comps and execution strength support our estimates of high single-digit Q3 billings growth/mid-single-digit revenue growth, both slightly above consensus. Despite the reasonably attractive setup, sentiment has improved over-the-last three months, with the stock outperforming the IGV by ~12.2 ppts, only moderating slightly over-the-last month. CHKP trades above its one-two and three-year EV/NTM FCF multiples; thus, we raise our price target but maintain a Neutral rating, awaiting a better entry point."

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