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Stock Market & Financial Investment News

News Breaks
January 31, 2013
16:59 EDTCHKPThornburg Investment reports 6.11% passive stake in Check Point
News For CHKP From The Last 14 Days
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February 24, 2015
10:28 EDTCHKPAnalyst sees 'massive' IT security upgrade cycle still in early innings
A number of trends are spurring businesses and the government to spend aggressively on cyber security offerings, benefiting companies in the IT security sector, wrote research firm FBR Capital in a note to investors today. In conjunction, the firm raised its price target on a number of stocks in the sector. WHAT'S NEW: After conducting checks, FBR Capital analyst Daniel Ives believes that spending on advanced cyber security products has increased this quarter. The ongoing series of well-publicized cyber attacks on large companies is causing businesses to become more concerned about protecting themselves from this threat, according to Ive, who believes that advanced IT security products have "massive," once in a multi-decade growth potential. Data points indicate that enterprises are looking to buy more advanced firewall/cloud security solutions, while the sizes of purchases by customers in the space have increased. Meanwhile, given the high priority that the Obama administration has placed on cyber security, the federal government's spending on IT security is likely to rise in the coming quarters and years, Ives wrote. Forecasting a 20% increase in overall cyber security spending this year, the analyst believes that the following companies should benefit disproportionately from the positive trends, since they have "the right products at the right time:" Palo Alto (PANW), FireEye (FEYE), Proofpoint (PFPT), Check Point (CHKP), and Fortinet (FTNT). The analyst raised his price target on Fortinet to $39 from $36, on Palo Alto to $160 from $121, on Proofpoint to $67 from $60, and on Check Point to $93 from $85. He kept Outperform ratings on all the stocks named. WHAT'S NOTABLE: In its own note to investors, RBC Capital said it expects Palo Alto to report stronger than expected Q2 results, driven by "impressive" revenue and margin improvements. The firm raised its price target on the shares to $150 from $145 and kept an Outperform rating on the stock. PRICE ACTION:In early trading, Palo Alto added 0.2% to $138.41, FireEye advanced 1.2% to $43.87, Proofpoint lost slipped fractionally to $56.55, Check Point rose 0.5% at $82.77, and Fortinet gained 1.3% to $33.76.
08:32 EDTCHKPFBR checks show strong cybersecurity deal momentum
FBR Capital raised its price targets in the next-generation cybersecurity space after its channel checks showed strong deal momentum so far in the March quarter. The firm believes the "massive upgrade cycle" for next-generation cybersecurity remains in the early days. It raised its price target for Fortinet (FTNT) to $39 from $36, for Palo Alto (PANW) to $160 from $121, for FireEye (FEYE) to $53 from $45, for Proofpoint (PFPT) to $67 from $60 and for Check Point (CHKP) to $93 from $85.
05:27 EDTCHKPCheck Point and Adallom announce partnership for SaaS document protection
Adallom and Check Point announced a new partnership aimed to protect business documents stored in SaaS environments. The migration of enterprise data to cloud applications coupled with the massive surge in mobile device usage may challenge IT and security teams. As a result, sensitive corporate documents may be shared with anyone with a single link, or downloaded to unmanaged devices; and users with access to sensitive documents may still have access to them after they depart the company.
February 23, 2015
10:15 EDTCHKPCyberArk sinks after JPMorgan analyst cuts rating to sell
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February 18, 2015
08:32 EDTCHKPCheck Point acquires Hyperwise, terms not disclosed
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February 15, 2015
17:43 EDTCHKPCybersecurity firm Kaspersky warns of cyber attack on banks, FT says
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