Oppenheimer believes that Check Point's approximately 10% decline over the past two months was caused by concerns about the company's firewall products and market share losses in that segment, along with investors' belief that the company invested too little, too late in improving its products. However, the firm is upbeat about the company's newer products, and thinks that it will benefit from increased spending by enterprises on IT security. The firm expects the company's Q2 results to be at least in-line with expectations, and it keeps a $90 price target and Outperform rating on the stock.

Sees Q2 revenue $607M-637M, consensus $623.27M. Comments taken from Q1 earnings conference call.