B of A Securities analyst Tal Liani downgraded Check Point Software Technologies (CHKP) from Buy to Neutral, citing concerns about the company’s modest growth trajectory despite new product launches and market efforts. Liani expects a recovery in billings next quarter but notes that achieving double-digit growth is likely to be delayed until 2025.
Check Point Software Technologies Ltd. (CHKP) reported a 7% year-on-year increase in revenue for the third quarter, reaching $635.10 million. While this slightly missed analyst expectations, the company’s adjusted EPS of $2.25 met estimates. Growth was fueled by strong performance in Security subscriptions, which rose by 11.5%. The company also highlighted its expanded offerings in the Security Operation Center (SOC) market with the recent Cyberint acquisition.
