Check Point Software Technologies (NASDAQ:CHKP) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a strong sell rating to a sell rating in a research report report published on Thursday morning, BidAskClub reports.

Other equities research analysts have also recently issued reports about the company. OTR Global cut Check Point Software Technologies to a positive rating in a research note on Tuesday, July 16th. Evercore ISI set a $105.00 target price on Check Point Software Technologies and gave the stock a hold rating in a research note on Wednesday, July 24th. Cowen initiated coverage on Check Point Software Technologies in a research note on Thursday, May 23rd. They set a market perform rating and a $120.00 target price on the stock. Northland Securities reiterated a neutral rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Finally, Robert W. Baird reissued a hold rating and issued a $120.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. Check Point Software Technologies currently has an average rating of Hold and a consensus target price of $124.47.

Shares of NASDAQ CHKP traded up $0.56 during mid-day trading on Thursday, reaching $111.88. 624,190 shares of the company’s stock were exchanged, compared to its average volume of 947,359. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 2.30 and a beta of 0.79. Check Point Software Technologies has a 52 week low of $98.57 and a 52 week high of $132.76. The firm has a 50-day moving average price of $109.40 and a two-hundred day moving average price of $116.81.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Wednesday, July 24th. The technology company reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.14. The company had revenue of $488.10 million for the quarter, compared to analysts’ expectations of $487.53 million. Check Point Software Technologies had a return on equity of 22.05% and a net margin of 40.99%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.37 EPS. On average, analysts expect that Check Point Software Technologies will post 5.49 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Atria Investments LLC grew its holdings in Check Point Software Technologies by 8.2% during the 2nd quarter. Atria Investments LLC now owns 8,448 shares of the technology company’s stock valued at $921,000 after buying an additional 641 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its holdings in Check Point Software Technologies by 12.8% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 1,833 shares of the technology company’s stock valued at $212,000 after buying an additional 208 shares in the last quarter. Maverick Capital Ltd. grew its holdings in Check Point Software Technologies by 107.5% during the 2nd quarter. Maverick Capital Ltd. now owns 94,040 shares of the technology company’s stock valued at $10,872,000 after buying an additional 48,730 shares in the last quarter. HM Payson & Co. purchased a new position in Check Point Software Technologies during the 2nd quarter valued at about $68,000. Finally, Private Capital Group LLC grew its holdings in Check Point Software Technologies by 81.1% during the 2nd quarter. Private Capital Group LLC now owns 288 shares of the technology company’s stock valued at $28,000 after buying an additional 129 shares in the last quarter. 70.84% of the stock is owned by institutional investors.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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Analyst Recommendations for Check Point Software Technologies (NASDAQ:CHKP)

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