Check Point Software Technologies (NASDAQ:CHKP) Cut to "Neutral" at Piper Sandler

Piper Sandler downgraded Check Point Software Technologies (NASDAQ:CHKP) from “overweight” to “neutral” with a $120 price target, citing the company’s Q1 revenue and billings miss, trimmed 2026 revenue outlook, and a subsequent 18.7% stock sell-off. Other brokers also cut targets, leading to a consensus “Hold” rating for the stock. Despite beating Q1 EPS, the negative outlook and unusual put-buying activity indicate a bearish short-term sentiment.

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