Short Interest in Check Point Software Technologies Ltd. (NASDAQ … – MarketBeat

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Abbey Colton January 4, 2023

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Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,240,000 shares, an increase of 8.7% from the November 30th total of 2,060,000 shares. Based on an average daily trading volume, of 834,600 shares, the days-to-cover ratio is currently 2.7 days. Currently, 2.2% of the company’s shares are short sold.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $126.16 on Tuesday. The stock has a market capitalization of $15.82 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 2.70 and a beta of 0.68. Check Point Software Technologies has a one year low of $107.54 and a one year high of $149.62. The business’s fifty day moving average is $128.77 and its 200-day moving average is $122.81.
Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.06. Check Point Software Technologies had a return on equity of 26.20% and a net margin of 34.35%. The company had revenue of $577.60 million during the quarter, compared to analyst estimates of $571.78 million. During the same quarter last year, the firm posted $1.44 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts expect that Check Point Software Technologies will post 6.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Several large investors have recently added to or reduced their stakes in CHKP. Massachusetts Financial Services Co. MA increased its holdings in Check Point Software Technologies by 20.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,631,197 shares of the technology company’s stock worth $854,846,000 after acquiring an additional 1,280,868 shares during the last quarter. Nordea Investment Management AB grew its holdings in Check Point Software Technologies by 31.9% during the 3rd quarter. Nordea Investment Management AB now owns 3,256,416 shares of the technology company’s stock valued at $370,677,000 after buying an additional 786,647 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its holdings in Check Point Software Technologies by 116.2% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,060,810 shares of the technology company’s stock valued at $129,185,000 after buying an additional 570,233 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Check Point Software Technologies by 79.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 900,204 shares of the technology company’s stock valued at $109,626,000 after buying an additional 397,986 shares in the last quarter. Finally, Great West Life Assurance Co. Can purchased a new position in Check Point Software Technologies during the 3rd quarter valued at about $35,461,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Check Point Software Technologies from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Friday, October 28th. Royal Bank of Canada increased their target price on Check Point Software Technologies from $130.00 to $135.00 and gave the stock a “sector perform” rating in a report on Friday, October 28th. Robert W. Baird reiterated a “neutral” rating and issued a $136.00 target price on shares of Check Point Software Technologies in a report on Wednesday, October 19th. Sumitomo Mitsui Financial Group initiated coverage on Check Point Software Technologies in a report on Friday, October 7th. They issued a “neutral” rating and a $115.00 target price on the stock. Finally, StockNews.com initiated coverage on Check Point Software Technologies in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Check Point Software Technologies presently has an average rating of “Hold” and a consensus price target of $136.80.

About Check Point Software Technologies

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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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abbeycolton353
Abbey Colton

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