Check Point Software Technologies Ltd. (NASDAQ:CHKP) Short Interest Update

Check Point Software Technologies Ltd. (NASDAQ:CHKP) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 2,840,000 shares, a decrease of 14.5% from the October 15th total of 3,320,000 shares. Based on an average daily volume of 661,400 shares, the short-interest ratio is presently 4.3 days. Currently, 3.3% of the shares of the stock are short sold.

Check Point Software Technologies Stock Down 1.9 %

NASDAQ:CHKP traded down $3.30 during midday trading on Friday, reaching $174.25. The stock had a trading volume of 598,690 shares, compared to its average volume of 932,522. Check Point Software Technologies has a 12-month low of $139.55 and a 12-month high of $210.70. The firm has a fifty day simple moving average of $191.52 and a two-hundred day simple moving average of $176.23. The stock has a market cap of $19.16 billion, a P/E ratio of 23.80, a P/E/G ratio of 2.97 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25. The firm had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.80 earnings per share. On average, sell-side analysts anticipate that Check Point Software Technologies will post 7.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

Several hedge funds have recently bought and sold shares of CHKP. FSA Wealth Management LLC acquired a new position in shares of Check Point Software Technologies in the third quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Check Point Software Technologies during the 2nd quarter worth $30,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Check Point Software Technologies during the 3rd quarter worth $33,000. Concord Wealth Partners purchased a new stake in shares of Check Point Software Technologies in the third quarter valued at $37,000. Finally, Arrow Financial Corp increased its stake in Check Point Software Technologies by 62.5% in the third quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock valued at $50,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CHKP shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Truist Financial boosted their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Susquehanna raised their price objective on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Finally, Mizuho raised their price objective on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Fifteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $197.74.

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 multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.