Goldman Sachs downgraded Check Point (CHKP) to Neutral from Buy with a price target of $207, up from $204. The firm believes the company’s earnings growth in 2025 is likely to be “muted” and is likely to weigh on the stock. Goldman’s analysis suggests that Check Point’s stock is correlated to earnings growth. It sees a scenario where Check Point selectively increases go to market and product investments in 2025, under the new CEO. While refresh cycle dynamics are likely to remain a tailwind, signals are more mixed than in 2024, the analyst tells investors in a research note.
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Read More on CHKP:
- Treasury Department hacked by state-sponsored actor in China, NY Times reports
- Check Point price target raised to $225 from $220 at Jefferies
- Check Point price target raised to $190 from $182 at Stifel
- Leadership Transition at Check Point: Nadav Zafrir Appointed CEO
- Check Point appoints Gil Shwed as executive chairman, Nadav Zafrir as CEO