Check Point Software Technologies (CHKP) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a sell rating to a hold rating in a research note issued to investors on Monday, February 5th.

According to Zacks, “Check Point reported mixed results for Q4 wherein earnings topped the Zacks Consensus Estimate but revenues fell short of the same. However, on a year-over-year basis, it registered growth on both counts. We believe that the rapid adoption of Check Point’s data center appliances and continuous enhancements in data center product lines will provide ample support to its top line. The company’s focus on enhancing mobile capabilities will aid it to tap greater larger opportunities. Furthermore, Check Point’s strategy of growing through acquisitions is praiseworthy. Nonetheless, the company’s ongoing issues related with the changes it made in its U.S. sales force makes us skeptical about its near-term performance. It looks like the recently-joined people are taking more-than-expected time for reaching their full potential. The same is reflected in the company’s outlook too.”

A number of other brokerages have also commented on CHKP. Northland Securities set a $120.00 price objective on Check Point Software Technologies and gave the stock a hold rating in a report on Wednesday, November 1st. BTIG Research lowered Check Point Software Technologies from a buy rating to a neutral rating in a report on Wednesday, November 1st. BidaskClub lowered Check Point Software Technologies from a hold rating to a sell rating in a report on Tuesday, January 16th. Stifel Nicolaus reissued a hold rating and set a $100.00 price objective on shares of Check Point Software Technologies in a report on Friday, November 3rd. Finally, UBS Group boosted their price objective on Check Point Software Technologies from $108.00 to $110.00 and gave the stock a neutral rating in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $113.67.

Shares of Check Point Software Technologies (NASDAQ:CHKP) traded down $0.36 during trading on Monday, reaching $97.84. The company had a trading volume of 2,311,900 shares, compared to its average volume of 1,756,482. Check Point Software Technologies has a twelve month low of $95.03 and a twelve month high of $119.20. The company has a market cap of $15,991.25, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 1.92 and a beta of 0.57.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Wednesday, January 31st. The technology company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.20. Check Point Software Technologies had a return on equity of 22.74% and a net margin of 43.29%. The business had revenue of $506.00 million during the quarter, compared to analyst estimates of $508.66 million. During the same period in the previous year, the company posted $1.46 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. research analysts forecast that Check Point Software Technologies will post 5.26 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the stock. First Allied Advisory Services Inc. lifted its stake in Check Point Software Technologies by 4.0% in the second quarter. First Allied Advisory Services Inc. now owns 2,944 shares of the technology company’s stock valued at $314,000 after purchasing an additional 113 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Check Point Software Technologies by 1.1% in the third quarter. Fisher Asset Management LLC now owns 42,815 shares of the technology company’s stock valued at $4,882,000 after purchasing an additional 475 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Check Point Software Technologies by 5.0% in the third quarter. D.A. Davidson & CO. now owns 10,423 shares of the technology company’s stock valued at $1,188,000 after purchasing an additional 501 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Check Point Software Technologies by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 8,319 shares of the technology company’s stock valued at $862,000 after purchasing an additional 503 shares during the last quarter. Finally, Carnick & Kubik Group LLC lifted its stake in Check Point Software Technologies by 2.6% in the third quarter. Carnick & Kubik Group LLC now owns 21,075 shares of the technology company’s stock valued at $2,403,000 after purchasing an additional 542 shares during the last quarter. Institutional investors and hedge funds own 71.60% of the company’s stock.

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Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

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