Weekly Analysts’ Ratings Updates for Check Point Software Technologies (CHKP)

Check Point Software Technologies (NASDAQ: CHKP) recently received a number of ratings updates from brokerages and research firms:

  • 9/30/2019 – Check Point Software Technologies was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $114.00 price target on the stock. According to Zacks, “Check Point is benefiting from strong growth in security subscriptions, including advanced threat prevention and CloudGuard suite. The company’s focus on enhancing mobile capabilities is helping it tap greater opportunities. Acquisitions have helped it in broadening its portfolio and enter newer market, which has eventually driven its revenues. The recent buyouts of Dome9 and ForceNock will help expand the company’s security capabilities. Check Point continues to win new customer accounts, which is boosting its revenues. However, Check Point derives a significant portion of total sales from the 10 biggest distributors, giving rise to the risk of customer concentration. Intensifying competition in the cybersecurity market is a concern. Shares have underperformed the industry in the year to date period.”
  • 9/19/2019 – Check Point Software Technologies was downgraded by analysts at Bank of America Corp from a “buy” rating to an “underperform” rating. They now have a $116.00 price target on the stock, down previously from $130.00.
  • 9/15/2019 – Check Point Software Technologies had its “hold” rating reaffirmed by analysts at Robert W. Baird.
  • 9/12/2019 – Check Point Software Technologies was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 8/20/2019 – Check Point Software Technologies was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 8/13/2019 – Check Point Software Technologies was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.

NASDAQ:CHKP traded up $1.33 during mid-day trading on Monday, reaching $109.50. 66,377 shares of the stock were exchanged, compared to its average volume of 895,446. The business has a fifty day moving average price of $108.77 and a 200 day moving average price of $115.94. The firm has a market capitalization of $16.61 billion, a PE ratio of 21.02, a PEG ratio of 2.26 and a beta of 0.79. Check Point Software Technologies Ltd. has a 1-year low of $98.57 and a 1-year high of $132.76.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Wednesday, July 24th. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.14. The firm had revenue of $488.10 million for the quarter, compared to analyst estimates of $487.53 million. Check Point Software Technologies had a return on equity of 22.05% and a net margin of 40.99%. Check Point Software Technologies’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 earnings per share. As a group, research analysts expect that Check Point Software Technologies Ltd. will post 5.49 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in CHKP. Motco purchased a new position in Check Point Software Technologies in the 2nd quarter worth about $26,000. Private Capital Group LLC increased its stake in Check Point Software Technologies by 81.1% in the 2nd quarter. Private Capital Group LLC now owns 288 shares of the technology company’s stock worth $28,000 after purchasing an additional 129 shares in the last quarter. Pinnacle Bank increased its stake in Check Point Software Technologies by 69.7% in the 2nd quarter. Pinnacle Bank now owns 258 shares of the technology company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. NuWave Investment Management LLC increased its stake in Check Point Software Technologies by 64.5% in the 2nd quarter. NuWave Investment Management LLC now owns 306 shares of the technology company’s stock worth $36,000 after purchasing an additional 120 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Check Point Software Technologies in the 2nd quarter worth about $37,000. 70.84% of the stock is currently owned by hedge funds and other institutional investors.

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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