Check Point Software Technologies (NASDAQ:CHKP) Rating Lowered to “Neutral” at The Goldman Sachs Group

The Goldman Sachs Group cut shares of Check Point Software Technologies (NASDAQ:CHKP) from a buy rating to a neutral rating in a report released on Thursday morning, Marketbeat.com reports. The Goldman Sachs Group currently has $207.00 price target on the technology company’s stock, up from their prior price target of $204.00.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group boosted their price objective on Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Evercore ISI upped their price target on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $187.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Finally, Mizuho raised their price target on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Sixteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $199.45.

Check Point Software Technologies Stock Performance

CHKP opened at $181.40 on Thursday. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $210.70. The firm has a 50 day moving average price of $182.74 and a 200 day moving average price of $183.96. The company has a market cap of $19.95 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The company had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. During the same quarter in the prior year, the business earned $1.80 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts predict that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Institutional Trading of Check Point Software Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. FSA Wealth Management LLC acquired a new position in shares of Check Point Software Technologies in the 3rd quarter valued at about $27,000. Kathleen S. Wright Associates Inc. bought a new position in Check Point Software Technologies in the third quarter worth about $33,000. GAMMA Investing LLC boosted its stake in Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after acquiring an additional 60 shares during the period. Concord Wealth Partners bought a new position in shares of Check Point Software Technologies during the third quarter valued at approximately $37,000. Finally, Arrow Financial Corp raised its position in shares of Check Point Software Technologies by 62.5% during the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after purchasing an additional 100 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Company Profile

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.