What's your position on ?
Why are you ish?
You voted ish on Vote again
Posts appear on the My Feed page of subscribers to this ticker
Jul. 24, 2014, 1:57 PM
- Fortinet (FTNT +6.7%) beat Q2 estimates with the help of 33% Y/Y billings growth (exceeded rev. growth of 25%) and a 95% Y/Y increase in $500K+ deals.
- The company guided in its CC slides (.pdf) for Q3 revenue of $182M-$185M and EPS of $0.11 vs. a consensus of $177.3M and $0.13. Full-year guidance is for revenue of $735M-$740M and EPS of $0.47-$0.48 vs. a consensus of $714M and $0.50. Billings are expected to grow ~22% to $835M-$840M.
- On its CC (transcript), the UTM hardware leader suggested its light EPS guidance is due to a heavy investment pace, including aggressive sales hiring. It also mentioned Americas sales were up 40% Y/Y, fueled by a 73% increase for U.S. enterprise.
- Meanwhile, Vasco Data (VDSI +16.9%) trounced Q2 estimates and hiked its guidance for 2014 revenue from traditional businesses to $175M-$180M from $168M-$172M. The company notes adoption of new productions leveraging its Cronto visual authentication tech (acquired last year) has been strong.
- FireEye (FEYE +3%), Palo Alto Networks (PANW +2.8%), Proofpoint (PFPT +3.6%), and Check Point (CHKP +1.7%) are trading higher. Proofpoint reports after the bell; Check Point provided a Q2 beat and healthy top-line guidance yesterday.
- On the other hand, Barracuda (CUDA -5.9%) is selling off. JPMorgan attributes the decline to Fortinet's CC remarks about rapidly growing sales to mid-sized businesses - Barracuda depends heavily on them - with the help of new resellers. The firm argues the concerns are overblown, particularly since Fortinet is more focused on larger mid-sized businesses.
Jul. 23, 2014, 2:24 PM
- Check Point (CHKP +2.1%) guided on its CC for Q3 revenue of $365M-$375M and EPS of $0.88-$0.92 vs. a consensus of $365.9M and $0.90.
- Q2 results beat estimates with the help of a 21% Y/Y increase in software blade subscription revenue to $63.7M. Like several enterprise security peers, Check Point has been trying to grow its reliance on subscription-based software/services revenue streams. Subscription growth also fueled a 14% Y/Y increase in Check Point's deferred revenue balance to $660M.
- Standard product/license revenue grew 4% to $124.3M, and software update/maintenance revenue grew 3% to $174.5M. Opex rose 10% to $172.7M.
- $194M was spent on buybacks. With Check Point's cash balance at $3.6B at quarter's end, the company says it's looking for M&A targets.
- FBR predicts "brighter days are on the horizon for 2H14/2015 as consistent license growth is now here to stay," thanks to a "next-generation firewall refresh" that's still in its early stages. Palo Alto Networks (49% April quarter revenue growth) remains the next-gen firewall market's leader.
Jul. 23, 2014, 5:34 AM
- Check Point Software Technologies (NASDAQ:CHKP): Q2 EPS of $0.89 beats by $0.02.
- Revenue of $362.59M (+6.6% Y/Y) beats by $3.22M.
Jul. 22, 2014, 5:30 PM
Apr. 29, 2014, 3:55 PM
- Though Check Point's (CHKP -4.3%) Q1 results were roughly in-line, the firewall vendor guided on its CC (transcript) for Q2 revenue of $340M-$375 ($357.5M midpoint) and EPS of $0.82-$0.90, slightly unfavorable to a consensus of $361.1M and $0.88.
- Check Point says it's seeing healthy demand in North America (20% Y/Y product sales growth in Q1), but also "saw some softness in international markets, especially Asia." The company chalks this up to both macro conditions and "a slow start to the year" following a strong Q4.
- Check Point's deferred revenue balance rose 13% Y/Y in Q1 to $660M. Overall product and software subscription revenue rose 10% Y/Y, better than total revenue growth of 6%. $183M was spent on buybacks.
- The company faces tough competition from next-gen firewall leader Palo Alto Networks (46% Jan. quarter revenue growth) and other upstarts, but has been faring better than traditional firewall rivals Cisco and Juniper.
- Q1 results, PR
Apr. 29, 2014, 5:42 AM
- Check Point Software Technologies Ltd. (CHKP): Q1 EPS of $0.84 beats by $0.01.
- Revenue of $342M (+6.0% Y/Y) in-line.
Apr. 28, 2014, 5:30 PM
- ABB, AGCO, AIXG, ALR, AMG, ARRY, AXE, BMY, BP, BSX, CARB, CCJ, CHKP, CIT, CMI, CNX, COH, CPLA, CRY, DBD, DDD, DORM, ESV, ETN, FDP, FLWS, FRX, GAS, GEO, GLT, GT, GTLS, HCA, HCBK, HRS, HUN, HW, IPGP, IRWD, KLIC, LG, LKQ, LRN, LYB, MGI, MGLN, MGM, MHFI, MLM, MRK, NMM, NOK, OSK, PCAR, PES, PH, POR, RESI, ROK, RTRX, RYN, S, SAVE, SCOR, SLAB, ST, TRW, UBSI, UDR, UTHR, VAC, VLO, WAT, WDR, WRLD, WWW, XYL.
Apr. 14, 2014, 7:07 PM
- An April Barclays survey of 100 U.S. and European CIOs found 46% expecting their company's IT spending to rise in 1H14, 20% expecting it to drop, and 34% expecting no change. Those figures compare with September survey levels of 43%, 27%, and 30%.
- Moreover, IT spending growth is seen accelerating in 2H in both the U.S. and Europe. Barclays thinks larger budgets, macro stabilization, and a need for equipment refreshes (due to high utilization rates) could be helping out.
- At the same time, the firm cautions the spending growth is uneven: Software, networking, security, and cloud services demand is healthy, but servers, storage, and IT services remain soft. Interest in the concept of a software-defined data center is gaining traction, but big data (hyped considerably last year) is losing it for now.
- Gartner has forecast IT spending will rise 3.2% this year to $3.77T after growing just 0.4% in 2013. Enterprise software (+6.9% to $320B) is expected to lead the way.
- Barclays thinks its survey bodes well for H-P (HPQ), Juniper (JNPR), F5 (FFIV), Aruba (ARUN), Ingram Micro (IM), and CDW, each of which is rated Overweight.
- Others that might take heart in the survey results: CSCO, ORCL, SAP, CA, SWI, VMW, CHKP, BRCD, ARW, AVT
Jan. 28, 2014, 5:58 AM
- Check Point Software Technologies Ltd. (CHKP): Q4 EPS of $0.98 beats by $0.03.
- Revenue of $387.1M (+5.0% Y/Y) beats by $3.67M.
Jan. 28, 2014, 12:05 AM
Jan. 27, 2014, 5:30 PM
Dec. 18, 2013, 7:13 PM
- Compared with servers and storage systems, demand for security hardware remains quite healthy. IDC estimates security appliance sales rose 6.5% Y/Y in Q3 to $2.2B, even as units only rose 0.3% (indicates higher ASPs). Sales had risen 6.1% in Q2 in spite of a 1.5% shipment drop.
- IDC thinks Cisco (CSCO), which just acquired leading intrusion prevention system (IPS) vendor SourceFire, had a 15.9% industry share, down fractionally Y/Y. #2 Check Point (CHKP) is given a 12.4% share (-30 bps), and #3 Fortinet (FTNT) a 6.4% share (+50 bps).
- #4 Juniper (JNPR), whose security unit has been a weak spot and is now under new management, saw its share fall 170 bps to 6.2%. Meanwhile, fast-growing next-gen firewall vendor Palo Alto Networks (PANW) saw its share rise 140 bps to 5.3%.
- In spite of healthy industry growth, the firewall market (21% of industry revenue), which Cisco, Juniper, and Check Point are well-exposed to, saw a 15% Y/Y sales drop. On the other hand, the unified threat management (UTM) market, which Fortinet is a leader in, grew 29%, and the IPS market grew 8%.
Nov. 12, 2013, 3:14 PM
- Check Point (CHKP +2.8%) has struck a deal with the Israeli government to pay NIS500M ($142M) in taxes on NIS1.7B ($482M) in profits that were deemed "trapped" (incapable of being distributed without a tax hit).
- Check Point had over $3.6B in cash/investments at the end of Q3, and no debt. The firewall vendor spent $128.3M of its cash on buybacks during the quarter.
Nov. 6, 2013, 10:28 AM
- After pricing its 4.14M-share IPO at $18 (the low end of an $18-$21 range), Barracuda Networks (CUDA) opened at $22 and is currently trading at $22.86, up 27%. That gives the security hardware vendor a market cap of $1.14B, or 5.7x FY13 (ended Feb. '13) sales.
- Peers Check Point (CHKP +1.6%) and FireEye (FEYE +1.9%) are up slightly, FireEye delivered a scorching IPO in September.
- S-1, IPO filing/recent results, IPO preview
Oct. 21, 2013, 11:18 AM
- Check Point (CHKP +3.7%) has guided on its Q3 call for Q4 revenue of $365M-$395M and EPS of $0.90-$0.98, in-line with a consensus of $385.2M and $0.96.
- Shares are rallying thanks to the guidance and Check Point's Q3 beat, which was aided by improving European macro trends (Check Point depends heavily on European sales) and $128M in buybacks. Investors are likely also pleased with a 12% Y/Y increase in the company's deferred revenue balance to $566.8M (exceeded rev. growth of 4%).
- Security hardware peer Fortinet (FTNT +1.7%) is also higher. While Check Point's top-line growth has been better than that posted by the security units of firewall rivals Cisco and Juniper, it has trailed that of smaller upstarts such as Fortinet, Palo Alto Networks, and FireEye. "We have a lot of competition and we need to grow faster," said CEO Gil Shwed on the CC.
Oct. 21, 2013, 6:11 AM
- Check Point Software (CHKP): Q3 EPS of $0.85 beats by $0.01.
- Revenue of $344.1M (+4% Y/Y) beats by $0.48M. (PR)
Other News & PR