Check Point Software Technologies (NASDAQ:CHKP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Check Point reported mixed results for Q4 wherein earnings topped the Zacks Consensus Estimate but revenues fell short of the same. However, on a year-over-year basis, it registered growth on both counts. We believe that the rapid adoption of Check Point’s data center appliances and continuous enhancements in data center product lines will provide ample support to its top line. The company’s focus on enhancing mobile capabilities will aid it to tap greater larger opportunities. Furthermore, Check Point’s strategy of growing through acquisitions is praiseworthy. Nonetheless, the company’s ongoing issues related with the changes it made in its U.S. sales force makes us skeptical about its near-term performance. It looks like the recently-joined people are taking more-than-expected time for reaching their full potential. The same is reflected in the company’s outlook too.”
Several other research firms have also recently issued reports on CHKP. OTR Global cut shares of Check Point Software Technologies to a “positive” rating in a research note on Tuesday, October 17th. Jefferies Group restated a “buy” rating and set a $126.00 target price on shares of Check Point Software Technologies in a research note on Thursday, October 19th. Oppenheimer restated a “buy” rating and set a $128.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, November 1st. JPMorgan Chase & Co. lowered their target price on shares of Check Point Software Technologies from $123.00 to $121.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $105.00 price objective (down previously from $110.00) on shares of Check Point Software Technologies in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $113.67.
Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, January 31st. The technology company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.20. The business had revenue of $506.00 million for the quarter, compared to analysts’ expectations of $508.66 million. Check Point Software Technologies had a net margin of 43.29% and a return on equity of 22.74%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 EPS. sell-side analysts anticipate that Check Point Software Technologies will post 5.29 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in CHKP. BB&T Investment Services Inc. purchased a new stake in Check Point Software Technologies in the 2nd quarter worth approximately $100,000. Zions Bancorporation increased its holdings in Check Point Software Technologies by 3,700.0% in the 3rd quarter. Zions Bancorporation now owns 874 shares of the technology company’s stock worth $100,000 after acquiring an additional 851 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Check Point Software Technologies in the 2nd quarter worth approximately $155,000. Archford Capital Strategies LLC increased its holdings in Check Point Software Technologies by 22,512.5% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,809 shares of the technology company’s stock worth $200,000 after acquiring an additional 1,801 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in Check Point Software Technologies in the 3rd quarter worth approximately $201,000. 71.65% of the stock is owned by institutional investors.
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About Check Point Software Technologies
Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.
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