Short Interest in Check Point Software Technologies Ltd. (NASDAQ:CHKP) Decreases By 7.2%

Check Point Software Technologies Ltd. (NASDAQ:CHKP) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 3,080,000 shares, a decrease of 7.2% from the March 15th total of 3,320,000 shares. Based on an average daily volume of 720,100 shares, the days-to-cover ratio is presently 4.3 days. Currently, 3.2% of the company’s stock are sold short.

Analyst Ratings Changes

CHKP has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Citigroup increased their price objective on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. William Blair raised shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 31st. Wells Fargo & Company increased their target price on shares of Check Point Software Technologies from $132.00 to $162.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Finally, BMO Capital Markets increased their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $159.70.

Check Point Software Technologies Stock Performance

Shares of CHKP opened at $157.63 on Tuesday. The firm has a market cap of $19.04 billion, a PE ratio of 22.14, a PEG ratio of 2.62 and a beta of 0.61. The firm’s 50 day moving average price is $162.56 and its 200 day moving average price is $151.69. Check Point Software Technologies has a twelve month low of $117.18 and a twelve month high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.10. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. The firm had revenue of $663.50 million for the quarter, compared to analyst estimates of $662.09 million. During the same quarter last year, the firm earned $2.23 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that Check Point Software Technologies will post 7.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently modified their holdings of CHKP. Concord Wealth Partners acquired a new stake in Check Point Software Technologies during the third quarter worth $25,000. CNB Bank acquired a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at $27,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Check Point Software Technologies in the 4th quarter valued at $28,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Check Point Software Technologies in the 4th quarter valued at $30,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Check Point Software Technologies in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

About Check Point Software Technologies

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.