Check Point Software Technologies (NASDAQ:CHKP) Reaches New 12-Month Low – Here’s What Happened

Check Point Software Technologies Ltd. (NASDAQ:CHKP)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $173.15 and last traded at $174.07, with a volume of 1542931 shares. The stock had previously closed at $180.21.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Stifel Nicolaus set a $211.00 price objective on Check Point Software Technologies in a research note on Tuesday, October 28th. Weiss Ratings upgraded shares of Check Point Software Technologies from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, October 30th. Roth Mkm restated a “neutral” rating on shares of Check Point Software Technologies in a research report on Monday, October 27th. Truist Financial set a $225.00 target price on Check Point Software Technologies in a research report on Tuesday, January 20th. Finally, Morgan Stanley set a $197.00 target price on Check Point Software Technologies in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Check Point Software Technologies currently has an average rating of “Moderate Buy” and an average price target of $226.62.

Check Point Software Technologies Stock Performance

The stock has a market cap of $19.90 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 2.84 and a beta of 0.58. The stock has a fifty day simple moving average of $186.48 and a two-hundred day simple moving average of $192.54.

Hedge Funds Weigh In On Check Point Software Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA grew its stake in shares of Check Point Software Technologies by 28.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,937,229 shares of the technology company’s stock worth $1,472,832,000 after buying an additional 1,766,774 shares during the last quarter. Norges Bank bought a new position in shares of Check Point Software Technologies in the 2nd quarter valued at $714,801,000. Ninety One UK Ltd boosted its holdings in shares of Check Point Software Technologies by 0.3% during the 3rd quarter. Ninety One UK Ltd now owns 2,601,592 shares of the technology company’s stock valued at $538,295,000 after acquiring an additional 8,814 shares in the last quarter. First Trust Advisors LP grew its position in Check Point Software Technologies by 31.4% during the 3rd quarter. First Trust Advisors LP now owns 2,497,275 shares of the technology company’s stock worth $516,711,000 after acquiring an additional 597,413 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Check Point Software Technologies by 8.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,171,322 shares of the technology company’s stock worth $449,274,000 after acquiring an additional 170,075 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

About Check Point Software Technologies

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).