I remain upbeat about the shares of Check Point Software Technologies (CHKP), a leading provider of IT security solutions. Recently, the company issued solid financials for the fourth quarter of 2016. Revenues increased 6.3% y-o-y to $486.7 mn surpassing consensus estimate of $477 mn. The improvement was driven by higher demand for data center and high-end appliances; besides, subscription revenues at Software Blades surged 25.5%. Another factor contributing to overall growth was the increased number of large deal signings. The number of new customers who signed deals worth $1 mn or more rose 15% to 99. Moreover, customers who signed deals worth $50,000 and more contributed 76% to the total order value, up from 72% registered in the year-ago quarter. Geographically, the Americas contributed 47% to revenues and Europe accounted for 38%, while Asia-Pacific, Japan, and the Middle East and Africa added the remaining 15%. Adjusted operating income climbed 1.6% to $266.4 mn. Operating margin contracted to 54.7% but remained the highest in the industry. Adjusted earnings per share jumped 21% to $1.33 comfortably beating analysts’ average projection of $1.15.Check Point exited Q4 with cash and cash equivalents, marketable securities and short-term investments of approximately $3.7 billion. In 2016, the company generated operating cash flow of $923 mn and repurchased $988 mn worth of common stock. As of the quarter-end, the company had around $760 mn remaining under current repurchase authorization.Check Point’s management also provided rather optimistic 2017 guidance. The company expects non-GAAP earnings in the range of $5.05-5.25 per share on revenues of $1.85-1.90 bn.I believe that Check Point will continue to benefit from strong demand for cybersecurity solutions going forward. To note, the financial well-being, brand image and reputation of enterprises and governments are always exposed to the risk of cyber threats. Consequently, cybersecurity has become a mission-critical, high-profile requirement. Recently, Check Point' shares broke $90 resistance level. I expect the stock to continue growth, with medium-term target at $110. $CHKP, Check Point Software Technologies Ltd. / D