Check Point Software Technologies (NASDAQ:CHKP) Downgraded by First Analysis to Neutral

Check Point Software Technologies (NASDAQ:CHKP) was downgraded by equities research analysts at First Analysis from an “outperform” rating to a “neutral” rating in a report released on Tuesday, Briefing.com Automated Import reports.

A number of other research analysts have also commented on CHKP. BidaskClub lowered Check Point Software Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, December 6th. Goldman Sachs Group started coverage on Check Point Software Technologies in a research note on Tuesday, November 12th. They issued a “neutral” rating and a $123.00 target price for the company. Jefferies Financial Group lowered Check Point Software Technologies from a “buy” rating to a “hold” rating and cut their target price for the company from $140.00 to $115.00 in a research note on Monday, October 7th. Northland Securities restated a “hold” rating on shares of Check Point Software Technologies in a research note on Tuesday, October 29th. Finally, Robert W. Baird restated a “hold” rating and issued a $120.00 target price on shares of Check Point Software Technologies in a research note on Monday, October 28th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. Check Point Software Technologies has an average rating of “Hold” and an average target price of $118.47.

Shares of CHKP stock opened at $113.44 on Tuesday. Check Point Software Technologies has a 12 month low of $103.46 and a 12 month high of $132.76. The firm has a market cap of $17.15 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 2.28 and a beta of 0.76. The stock has a 50 day moving average of $113.23 and a 200-day moving average of $112.16.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.04. Check Point Software Technologies had a return on equity of 21.86% and a net margin of 40.05%. The company had revenue of $490.91 million during the quarter, compared to analyst estimates of $490.94 million. During the same period in the previous year, the company earned $1.38 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities analysts expect that Check Point Software Technologies will post 5.51 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Integre Asset Management LLC acquired a new position in Check Point Software Technologies during the second quarter worth $2,259,000. AMP Capital Investors Ltd raised its stake in Check Point Software Technologies by 10.2% during the second quarter. AMP Capital Investors Ltd now owns 76,207 shares of the technology company’s stock worth $8,781,000 after acquiring an additional 7,035 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Check Point Software Technologies by 58.5% during the third quarter. Quadrant Capital Group LLC now owns 2,540 shares of the technology company’s stock worth $270,000 after acquiring an additional 937 shares in the last quarter. BBVA USA Bancshares Inc. acquired a new position in Check Point Software Technologies during the third quarter worth $277,000. Finally, Man Group plc raised its stake in Check Point Software Technologies by 11.7% during the third quarter. Man Group plc now owns 399,124 shares of the technology company’s stock worth $43,705,000 after acquiring an additional 41,929 shares in the last quarter. Institutional investors and hedge funds own 68.20% 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.

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

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