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CHKP

Check Point

$112.55

0.83 (0.74%)

, PANW

Palo Alto Networks

$237.89

-2.18 (-0.91%)

07:10
01/13/20
01/13
07:10
01/13/20
07:10

Check Point downgraded to Underweight on competitive pressures at Morgan Stanley

As previously reported, Morgan Stanley analyst Keith Weiss downgraded Check Point (CHKP) to Underweight from Equal Weight with a price target of $106, down from $115. His reseller andChief Security Officer surveys indicate Check Point's market share losses continue against network security competitors such as Palo Alto Networks (PANW) and Fortinet (FTNT), Weiss tells investors. Additionally, Check Point's sales execution challenges have yet to be remediated and Weiss expects investments, particularly in sales and marketing, to remain elevated in order to stem market share losses, the analyst added.

CHKP

Check Point

$112.55

0.83 (0.74%)

PANW

Palo Alto Networks

$237.89

-2.18 (-0.91%)

FTNT

Fortinet

$114.30

-0.21 (-0.18%)

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CHKP Check Point
$112.55

0.83 (0.74%)

10/28/19
JEFF
10/28/19
NO CHANGE
Target $115
JEFF
Hold
Jefferies unsure when Check Point inflection is coming
Jefferies analyst Brent Thill noted in a post-earnings research note titled "Steady but Uninspiring" that Check Point's Q3 revenue and Q4 guidance were in-line, although its billings were light and its deferred revenue growth has deceleratedin each of the last three quarter. The analyst, who said it is unclear when an inflection is coming for the company, keeps a Hold rating on Check Point shares.
11/12/19
GSCO
11/12/19
INITIATION
Target $123
GSCO
Neutral
Check Point initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Brian Essex initiated coverage of Check Point Software with a Neutral rating and $123 price target. The analyst started the Security Software sector with an attractive view, believing IT Security offers "attractive levels of exposure to growth technology," and that profitable companies with this exposure could outperform the market. Essex says his latest reseller survey implies Check Point has "yet to turn the corner on execution." The company's "compelling" valuation is overshadowed by share losses, says the analyst.
11/08/19
PIPR
11/08/19
INITIATION
Target $117
PIPR
Neutral
Check Point assumed with a Neutral at Piper Jaffray
Piper Jaffray analyst Rob Owens assumed coverage of Check Point Software with a Neutral rating and $117 price target.
01/13/20
MSCO
01/13/20
DOWNGRADE
Target $106
MSCO
Underweight
Check Point downgraded to Underweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Keith Weiss downgraded Check Point Software to Underweight from Equal Weight with a $106 price target.
PANW Palo Alto Networks
$237.89

-2.18 (-0.91%)

01/02/20
GSCO
01/02/20
NO CHANGE
Target $297
GSCO
Buy
Palo Alto Networks pullback offers attractive entry point, says Goldman Sachs
Goldman Sachs analyst Brian Essex reiterated a Buy rating on Palo Alto Networks with a $297 price target, telling investors that a pullback in the stock following the company's recent Q1 earnings results offers an attractive entry point heading into 2020. He believes the pullback was mainly due to investor concern around a decline in revenue growth reported for the quarter. However, Essex says he views product revenue weakness in Q1 as a temporary issue and believes strong next-generation growth, exposure to emerging growth segments, contribution from acquisitions and improving sales force productivity will drive better performance through the remainder of calendar 2020.
11/26/19
DADA
11/26/19
NO CHANGE
Target $245
DADA
Neutral
Palo Alto Networks price target lowered to $245 from $260 at DA Davidson
DA Davidson analyst Andrew Nowinski lowered his price target on Palo Alto Networks to $245 and kept his Neutral rating after its mixed Q1 results, saying the company's strong next-gen billings growth of 217% was overshadowed by the decline in product revenue. The analyst adds that while the management has slightly raised its billings guidance by $10M at the midpoint, the quarter support his thesis that the next-gen product component of overall sales is still too small while the core firewall solutions are decelerating.
01/08/20
BOFA
01/08/20
DOWNGRADE
Target $265
BOFA
Neutral
Palo Alto Networks' results show weakness under the surface, says BofA
BofA analyst Tal Liani downgraded Palo Alto Networks to Neutral from Buy with a price target of $265, down from $275. In a research note to investors, Liani says Palo Alto's recent results show weakness under the surface, saying he is growing increasingly concerned about the recent Product revenue decline of 4% year-over-year in Q1, given that Product revenues remain a leading indicator and drive 80%+ of the business, per his estimates. He also believes the high-growth Next-Gen billings largely capture cannibalization of appliances.
01/08/20
BOFA
01/08/20
DOWNGRADE
BOFA
Neutral
Palo Alto Networks downgraded to Neutral from Buy at BofA
BofA analyst Tal Liani downgraded Palo Alto Networks to Neutral from Buy.
FTNT Fortinet
$114.30

-0.21 (-0.18%)

01/09/20
PIPR
01/09/20
NO CHANGE
PIPR
Overweight
Okta, Proofpoint among Piper's top 2020 picks in Security Software
Piper Sandler analyst Rob Owens expects 2020 to be "another strong year" for the Security Software sector saying favorable trends around the threat landscape, cloud, IT sprawl and compliance continue to buoy spend. His top picks for 2020 are Okta (OKTA), Proofpoint (PFPT), ForeScout (FSCT), Fortinet (FTNT) and Crowdstrike (CRWD). The analyst boosted his price target for Fortinet to $126 from $116 and for Overweight-rated Splunk (SPLK) to $190 from $160.
01/08/20
OTRG
01/08/20
NO CHANGE
OTRG
OTR Global says checks point to improved win rates for Fortinet partners
OTR Global said earlier that its checks found that 12 of 23 Fortinet partners, including 4 of the 5 largest, beat their Q4 Fortinet sales targets. The firm also said it was told that Fortinet win rates during the past 6 months were the same or better for 21 of 22 partners, which was improved from its October checks. In early trading, Fortinet shares are up 1.5% to $113.64.
11/20/19
BMOC
11/20/19
NO CHANGE
Target $115
BMOC
Market Perform
Fortinet price target raised to $115 from $104 at BMO Capital
BMO Capital analyst Keith Bachman raised his price target on Fortinet to $115 after its Analyst Day medium term guidance of 15% revenue and billings growth over a 3-year period. The analyst notes that the management's plan is "credible" thanks to the company's y SD WAN / competitive advantages in firewall and fabric, adding that the "relatively flat" operating outlook is also likely to be "conservative". Bachman is keeping his Market Perform rating in spite of his higher conviction of durable growth at Fortinet, citing valuation.
12/05/19
CLVD
12/05/19
NO CHANGE
CLVD
Buy
Fortinet feedback suggests upside in Q4 and FY20, says Cleveland Research
Cleveland Research analyst Ben Bollin says his firm's work on Fortinet continues to suggest upside to guidance and consensus estimates in Q4 and fiscal 2020. Discussions with partners suggest potential for growth to approach 20% in Q4, with expectations of 15%-plus growth in 2020, Bollin tells investors in a research note. His work suggests Fortinet continues to show up in more large enterprise opportunities and grow net new customers with sales outside of its security core. The analyst keeps a Buy rating on the shares with a $122 fair value estimate.

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