Check Point Software Technologies Ltd

CHKP: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$358.00	Psmgy	Hbfkqzhw

Check Point Earnings: Business Indicators Getting More Positive; New CEO Announced

Rob Hales

Jul 24, 2024

Narrow-moat Check Point Software Technologies reported second-quarter numbers that were broadly in line with FactSet consensus. However, future business indicators are improving with 10% growth in billings, three large deals signed in the quarter totaling $130 million in bookings, and a return to growth in the product line with good demand for the new Quantum Force gateways. Shares were up around 6% intraday in response. We don’t expect to make a material change to our $155 per share fair value estimate. At current levels, the shares look fairly valued.

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