Check Point Software Technologies Ltd. (CHKP) Rating Lowered to Neutral at BTIG Research

Check Point Software Technologies Ltd. (NASDAQ:CHKP) was downgraded by research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a report issued on Wednesday, November 1st, Marketbeat Ratings reports.

The analysts wrote, “We are maintaining our $24 price target on SABR shares after a solid quarter with EBITDA 5% above consensus and management maintaining FY17 guidance. While no change to ’18E FCF, expected to grow in-line with mid-single-digit revenue growth, we believe a relatively vanilla quarter, with new agency contracts in higher unit economic regions (EMEA/APAC), are now benefiting Travel Network (TN) top- line, indicating management’s transition-plan is materializing. However, visibility into ’19E FCF accelerating is likely needed to materially shift some of the entrenched negative sentiment that exists around shares. Guidance suggests declining Airline solutions revenue near term, but this is largely priced in. Hospitality re-accelerated and commentary suggest mid-teens growth is sustainable. We believe SABR is well- positioned to scale long-term travel technology trends.””

Several other research firms have also commented on CHKP. Barclays PLC reissued a “hold” rating and issued a $110.00 target price on shares of Check Point Software Technologies in a report on Sunday, July 23rd. Citigroup Inc. raised their price objective on Check Point Software Technologies from $111.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Cowen and Company reaffirmed a “buy” rating and set a $113.00 price objective on shares of Check Point Software Technologies in a report on Friday, September 8th. Credit Suisse Group started coverage on Check Point Software Technologies in a report on Tuesday, September 5th. They set a “neutral” rating and a $110.00 price objective on the stock. Finally, BMO Capital Markets reissued a “market perform” rating and set a $115.00 price target (down previously from $117.00) on shares of Check Point Software Technologies in a report on Friday, July 21st. Twenty investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $113.60.

Shares of Check Point Software Technologies (NASDAQ CHKP) traded up $0.83 during midday trading on Wednesday, hitting $102.98. The stock had a trading volume of 1,117,240 shares, compared to its average volume of 1,138,254. The firm has a market capitalization of $16,950.00, a PE ratio of 21.50, a P/E/G ratio of 2.19 and a beta of 0.67. Check Point Software Technologies has a twelve month low of $80.78 and a twelve month high of $119.20.

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Hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. grew its position in shares of Check Point Software Technologies by 686.7% during the 1st quarter. Principal Financial Group Inc. now owns 74,163 shares of the technology company’s stock valued at $7,614,000 after buying an additional 64,736 shares during the last quarter. Teachers Advisors LLC grew its position in shares of Check Point Software Technologies by 4.6% during the 1st quarter. Teachers Advisors LLC now owns 107,684 shares of the technology company’s stock worth $11,055,000 after buying an additional 4,771 shares during the period. Vanguard Group Inc. grew its position in shares of Check Point Software Technologies by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 306,857 shares of the technology company’s stock worth $31,502,000 after buying an additional 20,909 shares during the period. Morgan Stanley grew its position in shares of Check Point Software Technologies by 9.8% during the 1st quarter. Morgan Stanley now owns 160,434 shares of the technology company’s stock worth $16,471,000 after buying an additional 14,349 shares during the period. Finally, Janus Capital Management LLC grew its position in shares of Check Point Software Technologies by 226.7% during the 1st quarter. Janus Capital Management LLC now owns 31,272 shares of the technology company’s stock worth $3,210,000 after buying an additional 21,701 shares during the period. Hedge funds and other institutional investors own 68.14% of the company’s stock.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

Analyst Recommendations for Check Point Software Technologies (NASDAQ:CHKP)

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