Intrinsic value of Check Point Software Technologies - CHKP

Previous Close

$105.00

  Intrinsic Value

$87.22

stock screener

  Rating & Target

hold

-17%

Previous close

$105.00

 
Intrinsic value

$87.22

 
Up/down potential

-17%

 
Rating

hold

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of CHKP stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.81
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
  5.20
  5.18
  5.16
  5.14
  5.13
  5.12
  5.10
  5.09
  5.08
  5.08
  5.07
  5.06
Revenue, $m
  1,741
  1,851
  1,965
  2,084
  2,208
  2,337
  2,472
  2,612
  2,759
  2,913
  3,073
  3,241
  3,416
  3,599
  3,791
  3,992
  4,202
  4,422
  4,653
  4,895
  5,148
  5,414
  5,692
  5,984
  6,290
  6,611
  6,948
  7,301
  7,672
  8,060
  8,468
Variable operating expenses, $m
 
  892
  943
  995
  1,049
  1,106
  1,165
  1,226
  1,291
  1,358
  1,428
  1,421
  1,497
  1,578
  1,662
  1,750
  1,842
  1,939
  2,040
  2,146
  2,257
  2,373
  2,495
  2,623
  2,757
  2,898
  3,046
  3,200
  3,363
  3,533
  3,712
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  889
  892
  943
  995
  1,049
  1,106
  1,165
  1,226
  1,291
  1,358
  1,428
  1,421
  1,497
  1,578
  1,662
  1,750
  1,842
  1,939
  2,040
  2,146
  2,257
  2,373
  2,495
  2,623
  2,757
  2,898
  3,046
  3,200
  3,363
  3,533
  3,712
Operating income, $m
  852
  958
  1,022
  1,089
  1,159
  1,231
  1,307
  1,386
  1,469
  1,555
  1,645
  1,820
  1,918
  2,021
  2,129
  2,242
  2,360
  2,484
  2,613
  2,749
  2,891
  3,041
  3,197
  3,361
  3,533
  3,713
  3,902
  4,101
  4,309
  4,527
  4,756
EBITDA, $m
  867
  1,042
  1,106
  1,173
  1,243
  1,316
  1,392
  1,471
  1,554
  1,640
  1,731
  1,825
  1,924
  2,027
  2,135
  2,248
  2,366
  2,490
  2,620
  2,756
  2,899
  3,049
  3,205
  3,370
  3,542
  3,723
  3,913
  4,111
  4,320
  4,539
  4,769
Interest expense (income), $m
  0
  0
  4
  8
  12
  16
  21
  25
  30
  35
  41
  46
  52
  58
  64
  71
  78
  85
  93
  101
  109
  118
  127
  137
  147
  158
  169
  181
  193
  206
  219
Earnings before tax, $m
  897
  958
  1,019
  1,081
  1,147
  1,215
  1,286
  1,361
  1,438
  1,519
  1,604
  1,774
  1,866
  1,963
  2,065
  2,171
  2,282
  2,398
  2,520
  2,648
  2,782
  2,922
  3,070
  3,224
  3,386
  3,555
  3,733
  3,920
  4,116
  4,321
  4,537
Tax expense, $m
  172
  259
  275
  292
  310
  328
  347
  367
  388
  410
  433
  479
  504
  530
  557
  586
  616
  648
  680
  715
  751
  789
  829
  870
  914
  960
  1,008
  1,058
  1,111
  1,167
  1,225
Net income, $m
  725
  699
  744
  789
  837
  887
  939
  993
  1,050
  1,109
  1,171
  1,295
  1,363
  1,433
  1,507
  1,585
  1,666
  1,751
  1,840
  1,933
  2,031
  2,133
  2,241
  2,353
  2,471
  2,595
  2,725
  2,862
  3,005
  3,155
  3,312

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,373
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,218
  4,085
  4,337
  4,600
  4,874
  5,159
  5,456
  5,767
  6,091
  6,430
  6,784
  7,154
  7,540
  7,945
  8,369
  8,812
  9,276
  9,762
  10,272
  10,805
  11,364
  11,951
  12,565
  13,209
  13,885
  14,594
  15,337
  16,117
  16,935
  17,793
  18,694
Adjusted assets (=assets-cash), $m
  3,845
  4,085
  4,337
  4,600
  4,874
  5,159
  5,456
  5,767
  6,091
  6,430
  6,784
  7,154
  7,540
  7,945
  8,369
  8,812
  9,276
  9,762
  10,272
  10,805
  11,364
  11,951
  12,565
  13,209
  13,885
  14,594
  15,337
  16,117
  16,935
  17,793
  18,694
Revenue / Adjusted assets
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
Average production assets, $m
  79
  83
  88
  94
  99
  105
  111
  118
  124
  131
  138
  146
  154
  162
  171
  180
  189
  199
  209
  220
  232
  244
  256
  269
  283
  297
  313
  329
  345
  363
  381
Working capital, $m
  726
  -688
  -731
  -775
  -821
  -869
  -919
  -972
  -1,026
  -1,084
  -1,143
  -1,205
  -1,271
  -1,339
  -1,410
  -1,485
  -1,563
  -1,645
  -1,731
  -1,821
  -1,915
  -2,014
  -2,117
  -2,226
  -2,340
  -2,459
  -2,585
  -2,716
  -2,854
  -2,998
  -3,150
Total debt, $m
  0
  107
  221
  338
  461
  589
  723
  862
  1,008
  1,160
  1,319
  1,485
  1,659
  1,840
  2,031
  2,230
  2,438
  2,656
  2,885
  3,125
  3,376
  3,639
  3,915
  4,204
  4,507
  4,826
  5,159
  5,509
  5,877
  6,262
  6,666
Total liabilities, $m
  1,727
  1,834
  1,948
  2,065
  2,188
  2,316
  2,450
  2,589
  2,735
  2,887
  3,046
  3,212
  3,386
  3,567
  3,758
  3,957
  4,165
  4,383
  4,612
  4,852
  5,103
  5,366
  5,642
  5,931
  6,234
  6,553
  6,886
  7,236
  7,604
  7,989
  8,393
Total equity, $m
  3,491
  2,251
  2,390
  2,535
  2,685
  2,843
  3,006
  3,178
  3,356
  3,543
  3,738
  3,942
  4,155
  4,378
  4,611
  4,855
  5,111
  5,379
  5,660
  5,954
  6,262
  6,585
  6,923
  7,278
  7,651
  8,041
  8,451
  8,880
  9,331
  9,804
  10,300
Total liabilities and equity, $m
  5,218
  4,085
  4,338
  4,600
  4,873
  5,159
  5,456
  5,767
  6,091
  6,430
  6,784
  7,154
  7,541
  7,945
  8,369
  8,812
  9,276
  9,762
  10,272
  10,806
  11,365
  11,951
  12,565
  13,209
  13,885
  14,594
  15,337
  16,116
  16,935
  17,793
  18,693
Debt-to-equity ratio
  0.000
  0.050
  0.090
  0.130
  0.170
  0.210
  0.240
  0.270
  0.300
  0.330
  0.350
  0.380
  0.400
  0.420
  0.440
  0.460
  0.480
  0.490
  0.510
  0.520
  0.540
  0.550
  0.570
  0.580
  0.590
  0.600
  0.610
  0.620
  0.630
  0.640
  0.650
Adjusted equity ratio
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  725
  699
  744
  789
  837
  887
  939
  993
  1,050
  1,109
  1,171
  1,295
  1,363
  1,433
  1,507
  1,585
  1,666
  1,751
  1,840
  1,933
  2,031
  2,133
  2,241
  2,353
  2,471
  2,595
  2,725
  2,862
  3,005
  3,155
  3,312
Depreciation, amort., depletion, $m
  15
  84
  84
  84
  85
  85
  85
  85
  85
  86
  86
  5
  5
  5
  6
  6
  6
  7
  7
  7
  8
  8
  9
  9
  9
  10
  10
  11
  12
  12
  13
Funds from operations, $m
  940
  783
  828
  874
  922
  972
  1,024
  1,078
  1,135
  1,195
  1,257
  1,300
  1,368
  1,439
  1,513
  1,591
  1,672
  1,757
  1,847
  1,940
  2,039
  2,141
  2,249
  2,362
  2,481
  2,605
  2,736
  2,872
  3,016
  3,167
  3,325
Change in working capital, $m
  -6
  -41
  -42
  -44
  -46
  -48
  -50
  -52
  -55
  -57
  -60
  -62
  -65
  -68
  -71
  -75
  -78
  -82
  -86
  -90
  -94
  -99
  -104
  -109
  -114
  -119
  -125
  -131
  -138
  -145
  -152
Cash from operations, $m
  946
  824
  870
  918
  968
  1,020
  1,074
  1,131
  1,190
  1,252
  1,316
  1,362
  1,433
  1,507
  1,584
  1,665
  1,750
  1,839
  1,933
  2,030
  2,133
  2,240
  2,353
  2,471
  2,595
  2,725
  2,861
  3,004
  3,154
  3,311
  3,476
Maintenance CAPEX, $m
  0
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -12
  -12
New CAPEX, $m
  -24
  -4
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -17
  -17
  -18
Cash from investing activities, $m
  -110
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -11
  -13
  -13
  -13
  -14
  -15
  -15
  -16
  -17
  -18
  -18
  -20
  -21
  -22
  -23
  -23
  -25
  -26
  -28
  -29
  -30
Free cash flow, $m
  836
  817
  862
  910
  959
  1,011
  1,065
  1,121
  1,179
  1,241
  1,305
  1,350
  1,420
  1,493
  1,570
  1,651
  1,735
  1,823
  1,916
  2,013
  2,114
  2,221
  2,332
  2,449
  2,572
  2,701
  2,836
  2,978
  3,126
  3,282
  3,446
Issuance/(repayment) of debt, $m
  0
  107
  113
  118
  123
  128
  134
  139
  146
  152
  159
  166
  174
  182
  190
  199
  208
  218
  229
  240
  251
  263
  276
  289
  303
  318
  334
  350
  367
  385
  404
Issuance/(repurchase) of shares, $m
  -859
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -841
  107
  113
  118
  123
  128
  134
  139
  146
  152
  159
  166
  174
  182
  190
  199
  208
  218
  229
  240
  251
  263
  276
  289
  303
  318
  334
  350
  367
  385
  404
Total cash flow (excl. dividends), $m
  -5
  925
  975
  1,028
  1,082
  1,139
  1,198
  1,260
  1,325
  1,393
  1,464
  1,516
  1,594
  1,675
  1,760
  1,850
  1,943
  2,041
  2,144
  2,252
  2,365
  2,484
  2,608
  2,739
  2,875
  3,019
  3,170
  3,328
  3,494
  3,668
  3,850
Retained Cash Flow (-), $m
  41
  -133
  -139
  -145
  -151
  -157
  -164
  -171
  -179
  -187
  -195
  -204
  -213
  -223
  -233
  -244
  -256
  -268
  -281
  -294
  -308
  -323
  -339
  -355
  -372
  -390
  -410
  -430
  -451
  -473
  -496
Prev. year cash balance distribution, $m
 
  1,373
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  2,165
  837
  883
  931
  982
  1,034
  1,089
  1,146
  1,206
  1,269
  1,312
  1,381
  1,452
  1,527
  1,606
  1,688
  1,774
  1,864
  1,958
  2,057
  2,161
  2,270
  2,384
  2,503
  2,629
  2,760
  2,898
  3,043
  3,195
  3,354
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  2,075
  766
  768
  767
  761
  751
  736
  717
  693
  665
  623
  589
  552
  513
  471
  429
  386
  343
  301
  261
  223
  188
  156
  127
  102
  81
  62
  47
  35
  25
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company's products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management. The Company offers Software Blades grouped into functional packages to address specific security issues. It has product offerings under these packages, which include Next Generation Firewall, Next Generation Threat Prevention, Next Generation Secure Web Gateway and Next Generation Data Protection.

FINANCIAL RATIOS  of  Check Point Software Technologies (CHKP)

Valuation Ratios
P/E Ratio 24
Price to Sales 10
Price to Book 5
Price to Tangible Book
Price to Cash Flow 18.4
Price to Free Cash Flow 18.9
Growth Rates
Sales Growth Rate 6.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 41.2%
Cap. Spend. - 3 Yr. Gr. Rate 19.1%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 14.1%
Ret/ On Assets - 3 Yr. Avg. 13.7%
Return On Total Capital 20.6%
Ret/ On T. Cap. - 3 Yr. Avg. 19.3%
Return On Equity 20.6%
Return On Equity - 3 Yr. Avg. 19.3%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 88.4%
Gross Margin - 3 Yr. Avg. 88.3%
EBITDA Margin 52.4%
EBITDA Margin - 3 Yr. Avg. 54.4%
Operating Margin 48.9%
Oper. Margin - 3 Yr. Avg. 51.3%
Pre-Tax Margin 51.5%
Pre-Tax Margin - 3 Yr. Avg. 53.5%
Net Profit Margin 41.6%
Net Profit Margin - 3 Yr. Avg. 42.6%
Effective Tax Rate 19.2%
Eff/ Tax Rate - 3 Yr. Avg. 20.4%
Payout Ratio 0%

CHKP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CHKP stock intrinsic value calculation we used $1741 million for the last fiscal year's total revenue generated by Check Point Software Technologies. The default revenue input number comes from 2016 income statement of Check Point Software Technologies. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CHKP stock valuation model: a) initial revenue growth rate of 6.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for CHKP is calculated based on our internal credit rating of Check Point Software Technologies, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Check Point Software Technologies.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CHKP stock the variable cost ratio is equal to 48.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for CHKP stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Check Point Software Technologies.

Corporate tax rate of 27% is the nominal tax rate for Check Point Software Technologies. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CHKP stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CHKP are equal to 4.5%.

Life of production assets of 59.4 years is the average useful life of capital assets used in Check Point Software Technologies operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CHKP is equal to -37.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3491 million for Check Point Software Technologies - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 163.578 million for Check Point Software Technologies is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Check Point Software Technologies at the current share price and the inputted number of shares is $17.2 billion.

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COMPANY NEWS

▶ Check Point Software Technologies Ltd.: Media Alert   [Jan-15-18 02:36PM  GlobeNewswire]
▶ Can Juniper Bounce Back after a Tough 2017?   [09:05AM  Market Realist]
▶ Is Check Point Software Technologies Ltd. a Buy?   [Jan-11-18 06:33PM  Motley Fool]
▶ Cybersecurity Short Sellers Run for Cover   [Dec-28-17 08:30AM  24/7 Wall St.]
▶ Is This China's Secret Weapon?   [05:03AM  Forbes]
▶ Where Will FireEye, Inc. Be in 5 Years?   [12:00PM  Motley Fool]
▶ Check Point CEO Wants Faster Growth   [Dec-18-17 10:31AM  Forbes]
▶ Short Sellers Back Off Cybersecurity Stocks   [08:35AM  24/7 Wall St.]
▶ Losing Sleep Over Your Portfolio? Consider These Stocks   [Dec-08-17 07:40AM  Motley Fool]
▶ Here's Why The Best Is Yet to Come for FireEye, Inc.   [Nov-30-17 05:36PM  Motley Fool]
▶ 2 Signs Palo Alto Networks Inc Needs New Management   [Nov-18-17 11:34AM  Motley Fool]
▶ Short Sellers Get Choosy on Cybersecurity Stocks   [Nov-10-17 08:45AM  24/7 Wall St.]
▶ Check Point Software shares fall on revenue outlook   [Oct-31-17 05:39PM  MarketWatch]
▶ Check Point Earnings, Revenue Top Views, But Stock Slides   [05:15PM  Investor's Business Daily]
▶ Check Point tops Street 3Q forecasts   [04:35PM  Associated Press]
▶ Why I Will Never Buy Palo Alto Networks Stock   [Oct-29-17 02:22PM  Motley Fool]
▶ Short Sellers Grow More Selective on Cybersecurity Stocks   [Oct-25-17 11:10AM  24/7 Wall St.]
▶ 3 Top Stocks for Risk-Averse Investors   [Oct-23-17 04:49PM  Motley Fool]
▶ 3 No-Brainer Stocks You Need to Know   [Oct-12-17 02:15PM  Motley Fool]
▶ Hate Risk? Then You'll Love These 2 Stocks   [Oct-10-17 07:48AM  Motley Fool]
▶ Alibaba, Checkpoint, Sina Hike Aug. Fund Inflows   [Oct-04-17 05:09PM  Investopedia]
Financial statements of CHKP
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