Check Point Software Technologies (NASDAQ:CHKP) Shares Gap Down After Analyst Downgrade

Check Point Software Technologies Ltd. (NASDAQ:CHKPGet Free Report) gapped down before the market opened on Tuesday after Robert W. Baird lowered their price target on the stock from $210.00 to $205.00. The stock had previously closed at $207.96, but opened at $189.00. Robert W. Baird currently has a neutral rating on the stock. Check Point Software Technologies shares last traded at $179.38, with a volume of 523,954 shares traded.

CHKP has been the topic of a number of other research reports. Barclays decreased their price target on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a report on Tuesday. Scotiabank raised their price target on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 25th. Evercore ISI upgraded Check Point Software Technologies to a “hold” rating in a report on Monday, September 16th. Jefferies Financial Group raised their price objective on Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Hold” and an average price target of $197.74.

Read Our Latest Report on Check Point Software Technologies

Institutional Trading of Check Point Software Technologies

Several large investors have recently bought and sold shares of the company. Maia Wealth LLC boosted its position in shares of Check Point Software Technologies by 17.5% during the third quarter. Maia Wealth LLC now owns 8,125 shares of the technology company’s stock valued at $1,669,000 after purchasing an additional 1,210 shares in the last quarter. HF Advisory Group LLC lifted its position in Check Point Software Technologies by 1.2% during the third quarter. HF Advisory Group LLC now owns 6,061 shares of the technology company’s stock valued at $1,169,000 after buying an additional 73 shares during the period. Pittenger & Anderson Inc. boosted its holdings in shares of Check Point Software Technologies by 14.3% during the 3rd quarter. Pittenger & Anderson Inc. now owns 22,750 shares of the technology company’s stock valued at $4,386,000 after buying an additional 2,850 shares in the last quarter. Martin Investment Management LLC grew its position in shares of Check Point Software Technologies by 2.0% in the 3rd quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock worth $31,497,000 after buying an additional 3,225 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of Check Point Software Technologies by 13.6% in the 3rd quarter. QRG Capital Management Inc. now owns 1,786 shares of the technology company’s stock worth $344,000 after buying an additional 214 shares during the period. 87.62% of the stock is owned by institutional investors.

Check Point Software Technologies Trading Down 2.2 %

The company has a market capitalization of $19.12 billion, a P/E ratio of 24.02, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62. The company’s 50 day moving average is $195.21 and its 200-day moving average is $174.67.

Check Point Software Technologies (NASDAQ:CHKPGet Free Report) last released its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.25. The firm had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $1.80 earnings per share. Analysts predict that Check Point Software Technologies Ltd. will post 7.83 EPS for the current fiscal year.

Check Point Software Technologies Company Profile

(Get Free Report)

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.

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