Check Point Software Technologies (NASDAQ:CHKP) Upgraded by BidaskClub to Sell

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BidaskClub upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a strong sell rating to a sell rating in a research note issued to investors on Thursday, BidAskClub reports.

Several other research firms also recently commented on CHKP. Robert W. Baird reiterated a hold rating and issued a $120.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, July 24th. OTR Global downgraded shares of Check Point Software Technologies to a positive rating in a report on Tuesday, July 16th. ValuEngine downgraded shares of Check Point Software Technologies from a buy rating to a hold rating in a report on Wednesday, July 24th. Northland Securities reiterated a neutral rating on shares of Check Point Software Technologies in a report on Thursday, July 25th. Finally, Evercore ISI set a $105.00 price objective on shares of Check Point Software Technologies and gave the company a hold rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. Check Point Software Technologies presently has an average rating of Hold and an average price target of $124.47.

CHKP traded up $0.56 during trading on Thursday, reaching $111.88. 624,190 shares of the stock were exchanged, compared to its average volume of 947,359. The stock has a market cap of $16.94 billion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 2.30 and a beta of 0.79. Check Point Software Technologies has a twelve month low of $98.57 and a twelve month high of $132.76. The stock’s 50 day moving average price is $109.40 and its two-hundred day moving average price is $116.81.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.14. Check Point Software Technologies had a net margin of 40.99% and a return on equity of 22.05%. The firm had revenue of $488.10 million for the quarter, compared to the consensus estimate of $487.53 million. During the same period in the previous year, the company earned $1.37 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities analysts anticipate that Check Point Software Technologies will post 5.49 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Moors & Cabot Inc. grew its position in shares of Check Point Software Technologies by 4.4% during the 1st quarter. Moors & Cabot Inc. now owns 2,350 shares of the technology company’s stock worth $299,000 after buying an additional 100 shares during the period. Park Avenue Securities LLC grew its position in shares of Check Point Software Technologies by 4.2% during the 2nd quarter. Park Avenue Securities LLC now owns 2,508 shares of the technology company’s stock worth $290,000 after buying an additional 100 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Check Point Software Technologies by 1.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,368 shares of the technology company’s stock worth $736,000 after buying an additional 100 shares during the period. Private Advisor Group LLC grew its position in shares of Check Point Software Technologies by 1.3% during the 2nd quarter. Private Advisor Group LLC now owns 8,210 shares of the technology company’s stock worth $949,000 after buying an additional 102 shares during the period. Finally, Manchester Capital Management LLC grew its position in shares of Check Point Software Technologies by 10.5% during the 1st quarter. Manchester Capital Management LLC now owns 1,105 shares of the technology company’s stock worth $140,000 after buying an additional 105 shares during the period. 70.84% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Company Profile

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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