Barclays lowered the firm’s price target on Check Point (CHKP) to $200 from $210 and keeps an Equal Weight rating on the shares after the company reported lower than expected billings in Q3. The firm expects high-single digit growth in Q4 as those slipped deals could add 3 points to growth while Cyberint could add another point, notes the analyst, who models about 5% FY25 growth as comparisons get tougher.
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Read More on CHKP:
- Check Point Software’s Strong Q3 Growth and Strategic Moves
- Check Point sees Q4 EPS $2.60-$2.70, consensus $2.65
- Check Point sees FY24 adjusted EPS $9.05-$9.15 vs. prior view $8.70-$9.30
- Check Point sees FY results ‘well within range’ previously provided
- Check Point reports Q3 adjusted EPS $2.25, consensus $2.25