BMO Capital has revised its price target for Check Point Software Technologies (CHKP, Financial), lowering it to $250 from the previous $275. Despite the adjustment, the firm maintains an Outperform rating on the cybersecurity company's shares.
Check Point's recent earnings report showcased solid top-line performance, driven by a robust increase in product revenue. This growth comes even as the broader market faces challenges, including macroeconomic uncertainties and tariff impacts, which have not yet affected the company's sales pipeline.
The decision to lower the price target is attributed to a significant decline in software valuations, according to the analyst's note. Nevertheless, BMO Capital remains optimistic about Check Point's potential, given its strong revenue foundations and unaffected sales momentum.
