OTR Global Lowers Check Point Software Technologies (NASDAQ:CHKP) to Mixed – MarketBeat

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Check Point Software Technologies (NASDAQ:CHKP – Get Rating) was downgraded by stock analysts at OTR Global to a “mixed” rating in a research note issued on Wednesday, Stock Target Advisor reports.
Other equities analysts have also issued research reports about the company. BMO Capital Markets lowered their target price on Check Point Software Technologies from $155.00 to $150.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 2nd. Piper Sandler lowered their target price on Check Point Software Technologies from $130.00 to $120.00 in a research note on Wednesday, July 13th. Barclays lowered their target price on Check Point Software Technologies from $145.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 2nd. Finally, Bank of America upgraded Check Point Software Technologies from an “underperform” rating to a “buy” rating and increased their target price for the stock from $130.00 to $140.00 in a research note on Wednesday, July 20th. Five research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies has an average rating of “Hold” and an average price target of $139.06.

Check Point Software Technologies Trading Down 4.7 %

NASDAQ:CHKP traded down $5.58 on Wednesday, hitting $112.61. The company’s stock had a trading volume of 9,757 shares, compared to its average volume of 747,491. The stock has a fifty day moving average of $119.48 and a two-hundred day moving average of $125.47. The firm has a market capitalization of $14.12 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 2.52 and a beta of 0.61. Check Point Software Technologies has a one year low of $107.85 and a one year high of $149.62.
Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last released its quarterly earnings data on Monday, August 1st. The technology company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.05. The firm had revenue of $571.10 million for the quarter, compared to analyst estimates of $560.40 million. Check Point Software Technologies had a return on equity of 25.49% and a net margin of 35.15%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 earnings per share. As a group, sell-side analysts anticipate that Check Point Software Technologies will post 6.28 EPS for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

Large investors have recently modified their holdings of the business. William Blair Investment Management LLC boosted its holdings in shares of Check Point Software Technologies by 277.4% in the 1st quarter. William Blair Investment Management LLC now owns 15,116 shares of the technology company’s stock valued at $2,090,000 after purchasing an additional 11,111 shares in the last quarter. Sciencast Management LP boosted its holdings in shares of Check Point Software Technologies by 25.9% in the 1st quarter. Sciencast Management LP now owns 4,466 shares of the technology company’s stock valued at $628,000 after purchasing an additional 920 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA acquired a new stake in shares of Check Point Software Technologies in the 2nd quarter valued at $258,000. Victory Capital Management Inc. boosted its holdings in shares of Check Point Software Technologies by 40.9% in the 1st quarter. Victory Capital Management Inc. now owns 67,137 shares of the technology company’s stock valued at $8,946,000 after purchasing an additional 19,497 shares in the last quarter. Finally, Avestar Capital LLC boosted its holdings in shares of Check Point Software Technologies by 7.9% in the 1st quarter. Avestar Capital LLC now owns 2,924 shares of the technology company’s stock valued at $404,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 67.03% of the company’s stock.

About Check Point Software Technologies

(Get Rating)
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 security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.

Further Reading

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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