BidaskClub Downgrades Check Point Software Technologies (CHKP) to Sell

Check Point Software Technologies (NASDAQ:CHKP) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other equities research analysts also recently issued reports on CHKP. ValuEngine downgraded Check Point Software Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday. Argus downgraded Check Point Software Technologies from a “buy” rating to a “hold” rating and increased their price objective for the stock from $119.20 to $124.00 in a research note on Wednesday, May 9th. Barclays reduced their price objective on Check Point Software Technologies from $106.00 to $104.00 and set an “equal weight” rating for the company in a research note on Thursday, April 26th. Zacks Investment Research downgraded Check Point Software Technologies from a “hold” rating to a “sell” rating in a research note on Friday, April 27th. Finally, Morgan Stanley reduced their price objective on Check Point Software Technologies from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, April 26th. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $109.99.

Check Point Software Technologies traded down $0.44, hitting $95.96, during mid-day trading on Thursday, MarketBeat reports. The company’s stock had a trading volume of 9,801 shares, compared to its average volume of 1,389,254. The company has a market cap of $15.83 billion, a P/E ratio of 19.71, a P/E/G ratio of 1.96 and a beta of 0.66. Check Point Software Technologies has a 52-week low of $95.62 and a 52-week high of $97.02.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Wednesday, April 25th. The technology company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.02. The firm had revenue of $452.30 million during the quarter, compared to the consensus estimate of $452.13 million. Check Point Software Technologies had a return on equity of 22.83% and a net margin of 43.15%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 EPS. research analysts forecast that Check Point Software Technologies will post 5.11 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of CHKP. Earnest Partners LLC acquired a new position in shares of Check Point Software Technologies during the 4th quarter valued at about $100,959,000. FIL Ltd increased its holdings in shares of Check Point Software Technologies by 50.4% during the 1st quarter. FIL Ltd now owns 2,590,559 shares of the technology company’s stock valued at $257,346,000 after acquiring an additional 868,345 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Check Point Software Technologies by 7.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,411,680 shares of the technology company’s stock valued at $1,232,978,000 after acquiring an additional 810,803 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Check Point Software Technologies by 29.0% during the 1st quarter. Wells Fargo & Company MN now owns 2,121,257 shares of the technology company’s stock valued at $210,726,000 after acquiring an additional 477,013 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Check Point Software Technologies by 48.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,191,511 shares of the technology company’s stock valued at $123,464,000 after acquiring an additional 391,569 shares during the last quarter. 67.92% of the stock is currently owned by institutional investors and hedge funds.

About Check Point Software Technologies

Check Point Software Technologies Ltd. provides hardware and software products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides security gateways to protect the networks and prevent the threats of enterprises, data centers, and small and large branch offices; security gateway appliances, including platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and security management software, which offers security management through a single console that streamlines security operations and provides visibility into policy administration and threat analysis.

Analyst Recommendations for Check Point Software Technologies (NASDAQ:CHKP)

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