Check Point Software Technologies (CHKP) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a hold rating to a sell rating in a report published on Friday.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group dropped their price target on Check Point Software Technologies to $117.00 and set a buy rating for the company in a research note on Thursday, April 26th. Barclays dropped their price target on Check Point Software Technologies from $106.00 to $104.00 and set an equal weight rating for the company in a research note on Thursday, April 26th. Morgan Stanley dropped their price target on Check Point Software Technologies from $107.00 to $102.00 and set an equal weight rating for the company in a research note on Thursday, April 26th. Royal Bank of Canada reaffirmed a hold rating and set a $110.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, April 25th. Finally, Deutsche Bank lowered their target price on Check Point Software Technologies from $100.00 to $95.00 and set a hold rating for the company in a research report on Wednesday, April 25th. Two investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $109.05.

Shares of Check Point Software Technologies opened at $96.55 on Friday, according to MarketBeat.com. Check Point Software Technologies has a 52 week low of $93.76 and a 52 week high of $119.20. The firm has a market capitalization of $15.93 billion, a PE ratio of 19.74, a PEG ratio of 1.97 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, April 25th. The technology company reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.02. Check Point Software Technologies had a return on equity of 22.83% and a net margin of 43.15%. The company had revenue of $452.30 million during the quarter, compared to analysts’ expectations of $452.13 million. During the same period in the prior year, the company earned $1.20 EPS. Check Point Software Technologies’s revenue was up 3.9% compared to the same quarter last year. sell-side analysts predict that Check Point Software Technologies will post 5.11 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of CHKP. Victory Capital Management Inc. grew its holdings in Check Point Software Technologies by 6.4% during the 4th quarter. Victory Capital Management Inc. now owns 8,319 shares of the technology company’s stock worth $862,000 after acquiring an additional 503 shares during the period. Comerica Bank grew its holdings in Check Point Software Technologies by 2.9% during the 4th quarter. Comerica Bank now owns 21,645 shares of the technology company’s stock worth $2,275,000 after acquiring an additional 600 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Check Point Software Technologies by 12.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 29,753 shares of the technology company’s stock worth $3,083,000 after acquiring an additional 3,335 shares during the period. BlackRock Inc. grew its holdings in Check Point Software Technologies by 2.4% during the 4th quarter. BlackRock Inc. now owns 5,008,260 shares of the technology company’s stock worth $518,956,000 after acquiring an additional 117,950 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Check Point Software Technologies by 556.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,441 shares of the technology company’s stock worth $253,000 after acquiring an additional 2,069 shares during the period. Hedge funds and other institutional investors own 65.68% of the company’s stock.

About Check Point Software Technologies

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.

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

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