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Sunday, December 04, 2005 7:20:59 AM
01.12.05 | 14:44 By Omri Cohen
The number of analysts recommending that investors buy into Check Point Software Technologies (NASDAQ: CHKP) is still greater than the number of ones cool on the stock. But the Israeli data security company has been hung with three Hold recommendations in the last month, which could attest to a trend.
The first was Piper Jaffray, which downgraded Check Point from Outperform to Market Perform after the company reported its third-quarter results.
Two weeks later, Wedbush Morgan did the same, reducing from Buy to Hold, and today Stifel, Nicolaus & Co (NYSE:SF) has started Check Point with a Hold rating.
Analysts Todd Weller and Chad Chilcot began coverage of the Israeli company after buying the capital market operations of Legg Mason Wood Walker, which had covered Check Point, they explain.
Like their colleagues at other investment banks, they note Check Point's leading position in network security solutions, but the absence of growth in its core business.
"It is not apparent that recent new products? have gained significant traction," they write.
The acquisition of Zone is working well and the acquisition of Sourcefire is a good move, because it improves Check Point's positioning intrusion prevention and detection, they say.
But Check Point's revenue growth has been slowing, begging questions about its long-term growth potential, they conclude.
In the third quarter, its revenue growth dropped 9.1% compared with 13.9%in the second quarter and 18.6% in the first quarter. In absolute terms, growth was still slowing, from a quarterly increase of $21.6 million in January-March, to $11.7 million in July-September.
Check Point must demonstrate accelerating growth from new product areas to lift its multiple, they conclude.
They did not set it a target price, but predict 2005 earnings per share of $1.30, rising to $1.44 per share in 2006.
This year Check Point stock has lost 13.6%, after rising 46% in 2004. Yesterday it closed at $21.30 on Nasdaq.
Stock in Check Point, a data security company
http://www.haaretz.com/hasen/spages/652615.html
Dubi
Recent CHKP News
- Check Point Software is Named a Leader in Mobile Threat Defense Solutions Report by Independent Research Firm • GlobeNewswire Inc. • 07/16/2024 02:05:00 PM
- Check Point Software Releases its 2023 Environment, Social, and Governance (ESG) Report • GlobeNewswire Inc. • 07/15/2024 01:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/11/2024 01:00:06 PM
- Check Point Software Technologies Announces $2.0 Billion Expansion of Share Repurchase Authorization • GlobeNewswire Inc. • 07/11/2024 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/11/2024 10:50:49 AM
- Check Point Software to Announce 2024 Second Quarter Financial Results on July 24, 2024 • GlobeNewswire Inc. • 07/01/2024 01:00:00 PM
- Check Point Software Simplifies Cloud Application Security with AI-Powered WAFaaS • GlobeNewswire Inc. • 06/11/2024 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/07/2024 10:10:29 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/03/2024 10:16:54 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/28/2024 08:46:10 PM
- Check Point Software Advances API Security Supporting Enterprise Digital Transformation • GlobeNewswire Inc. • 05/22/2024 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/09/2024 07:58:28 PM
- Rising Cloud Threats Demand Advanced Defenses: Check Point's 2024 Report Highlights Urgent Need for AI and Prevention First Security Measures • GlobeNewswire Inc. • 05/06/2024 01:00:00 PM
- Check Point Software Reports 2024 First Quarter Financial Results • GlobeNewswire Inc. • 04/25/2024 09:00:26 AM
- Check Point Software Technologies Transforms Email Security Again: Patented Unified Administration Boosts Efficacy and Improves Productivity • GlobeNewswire Inc. • 04/11/2024 01:00:00 PM
- Check Point Software to Announce 2024 First Quarter Financial Results on April 25, 2024 • GlobeNewswire Inc. • 04/01/2024 01:00:40 PM
- Check Point Announces a New Collaboration with Microsoft to Supercharge Infinity AI Copilot with Microsoft Azure OpenAI Service • GlobeNewswire Inc. • 03/26/2024 01:00:00 PM
- Check Point to Set New Standard for Securing AI Cloud Infrastructure at Scale with NVIDIA • GlobeNewswire Inc. • 03/19/2024 03:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/11/2024 12:13:38 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/06/2024 10:25:36 PM
- Check Point Software Achieves Top Ranking Zero Trust Platform Benchmark • GlobeNewswire Inc. • 03/06/2024 06:05:00 PM
- Introducing Check Point Harmony SaaS: The Cutting-Edge Solution for SaaS Threat Prevention • GlobeNewswire Inc. • 03/06/2024 02:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/01/2024 09:05:23 PM
- Check Point Software Technologies Ranked as a Leading Email Security Provider in Latest Industry Analyst Report • GlobeNewswire Inc. • 02/29/2024 02:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/21/2024 11:12:50 AM
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