2024-06-17 01:51:06 ET
Summary
- Check Point Software Technologies reinforced its product offerings through Copilot, developed using the Microsoft Azure OpenAI service.
- At the same time, its partnership with Nvidia for ASIC boosts its positioning for firewalls, which are key to secure AI workloads in the cloud.
- With a surge in bookings, it could deliver more revenues than expected while increased demand provides it with better pricing power prospects, which is good for profitability.
- Given the highly competitive marketplace including bigger players, it is important to be reasonably bullish, because of risks.
- CHKP stock could potentially appreciate by 18.6%.
After reaching a peak of $166 in March, Check Point Software Technologies ( CHKP ) lost ground as part of a broader market move impacting other cybersecurity stocks according to Seeking Alpha News , and this is despite the Israel-based company performing better than expected during the first quarter of 2024 (Q1) financial results....
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For further details see:
Check Point: A Buy Based On AI Growth Drivers And Earnings Strength