When it comes to protecting your firm's computer network, you want to do business with a security software company experienced at dealing with complex corporate systems. There is an outfit in Israel that knows those ropes. Among the thousands of businesses on its customer list are all of the Fortune 100 companies.
Check Point Software Technologies (NASDAQ: CHKP) provides security software used to protect corporate networks. Products verify remote users, control access, block viruses and allow firms to establish virtual private networks (VPN) for secure communications, bandwidth management and enhanced performance. Competitors include Cisco Systems (NASDAQ: CSCO), Juniper Networks (NASDAQ: JNPR) and Symantec Corporation (NASDAQ: SYMC).
The company received some good news last week, when Friedman Billings upgraded the shares from "market perform" to "outperform" and boosted its price target to $28. The broker noted that Check Point was starting to see a re-acceleration in business from its strengthened VPN/firewall product portfolio and believed the company was positioned to benefit from an anticipated surge in endpoint security spending over the next year.
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