Check Point Software Technologies (NASDAQ:CHKP) Reaches New 52-Week Low – What’s Next?

Check Point Software Technologies Ltd. (NASDAQ:CHKP) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $173.56 and last traded at $174.2760, with a volume of 295019 shares traded. The stock had previously closed at $180.24.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Mizuho set a $225.00 target price on Check Point Software Technologies in a research note on Wednesday, October 29th. UBS Group lifted their price target on shares of Check Point Software Technologies from $210.00 to $215.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada reduced their price objective on shares of Check Point Software Technologies from $215.00 to $195.00 and set a “sector perform” rating on the stock in a research note on Monday, January 5th. Morgan Stanley set a $197.00 target price on shares of Check Point Software Technologies in a research report on Wednesday. Finally, Barclays cut their target price on shares of Check Point Software Technologies from $235.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $227.91.

Check Point Software Technologies Stock Performance

The stock has a market cap of $19.21 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 3.42 and a beta of 0.59. The company has a 50-day simple moving average of $187.36 and a two-hundred day simple moving average of $194.07.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Tuesday, October 28th. The technology company reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $1.49. The firm had revenue of $677.50 million for the quarter, compared to analyst estimates of $673.60 million. Check Point Software Technologies had a net margin of 37.62% and a return on equity of 37.91%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.25 earnings per share. As a group, sell-side analysts predict that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Davis Capital Management bought a new position in Check Point Software Technologies in the 3rd quarter valued at $1,276,000. Ninety One UK Ltd lifted its stake in Check Point Software Technologies by 0.3% in the third quarter. Ninety One UK Ltd now owns 2,601,592 shares of the technology company’s stock valued at $538,295,000 after purchasing an additional 8,814 shares during the last quarter. Triton Financial Group Inc bought a new stake in shares of Check Point Software Technologies in the second quarter valued at $2,296,000. Meyer Handelman Co. grew its stake in shares of Check Point Software Technologies by 11.9% during the 3rd quarter. Meyer Handelman Co. now owns 52,291 shares of the technology company’s stock worth $10,820,000 after acquiring an additional 5,552 shares during the period. Finally, Aberdeen Group plc boosted its position in Check Point Software Technologies by 4.9% during the second quarter. Aberdeen Group plc now owns 39,850 shares of the technology company’s stock worth $8,817,000 after purchasing an additional 1,848 shares during the period. Institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. is an Israeli-founded cybersecurity company that develops, markets and supports a broad portfolio of network, cloud and endpoint security products. Founded in 1993, the company was an early pioneer of stateful inspection firewall technology and later developed a modular “software blade” approach that allowed customers to combine protection capabilities. Check Point’s product set spans physical and virtual security appliances, software and cloud-native services designed to prevent cyberattacks, protect data and simplify security management for enterprises and service providers.

Key product families include Quantum Security Gateways (on-premises and hybrid appliances), CloudGuard (cloud security posture and workload protection), Harmony (endpoint, remote access and unified endpoint security), and SandBlast (advanced threat prevention and sandboxing).