Check Point Software Technologies Ltd. (NASDAQ:CHKP) Sees Large Decline in Short Interest – MarketBeat
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Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 2,220,000 shares, a decline of 12.9% from the October 31st total of 2,550,000 shares. Based on an average trading volume of 832,700 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.2% of the company’s stock are sold short.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in CHKP. Tcwp LLC acquired a new position in Check Point Software Technologies during the first quarter valued at approximately $26,000. SeaCrest Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the second quarter worth $33,000. MV Capital Management Inc. acquired a new position in shares of Check Point Software Technologies during the first quarter worth $45,000. Alta Advisers Ltd acquired a new position in shares of Check Point Software Technologies during the third quarter worth $45,000. Finally, Wipfli Financial Advisors LLC acquired a new position in shares of Check Point Software Technologies during the third quarter worth $65,000. 67.03% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Sumitomo Mitsui Financial Group assumed coverage on Check Point Software Technologies in a research report on Friday, October 7th. They issued a “neutral” rating and a $115.00 target price on the stock. Barclays lifted their target price on Check Point Software Technologies from $135.00 to $137.00 and gave the company an “equal weight” rating in a research report on Friday, October 28th. Citigroup lifted their target price on Check Point Software Technologies from $117.00 to $125.00 in a research report on Friday, October 28th. Truist Financial reduced their price target on Check Point Software Technologies from $145.00 to $130.00 and set a “buy” rating for the company in a report on Monday, October 24th. Finally, Morgan Stanley lifted their price target on Check Point Software Technologies from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Friday, October 28th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $136.80.
Check Point Software Technologies Stock Performance
Shares of CHKP stock traded down $1.02 during trading on Friday, hitting $133.48. The company had a trading volume of 541,573 shares, compared to its average volume of 783,800. Check Point Software Technologies has a one year low of $107.54 and a one year high of $149.62. The firm has a market capitalization of $16.74 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 2.88 and a beta of 0.67. The stock’s 50-day moving average price is $121.96 and its 200 day moving average price is $122.17.
Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.45 by $0.06. Check Point Software Technologies had a net margin of 34.35% and a return on equity of 26.20%. The business had revenue of $577.60 million during the quarter, compared to the consensus estimate of $571.78 million. During the same period in the previous year, the business earned $1.44 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. On average, research analysts anticipate that Check Point Software Technologies will post 6.37 earnings per share for the current fiscal year.
Check Point Software Technologies Company Profile
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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.
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