Check Point Software Technologies Ltd. (CHKP) Stock Rating Lowered by Piper Jaffray Companies

Check Point Software Technologies Ltd. (NASDAQ:CHKP) was downgraded by research analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a report released on Friday, July 21st, Marketbeat.com reports. They currently have a $108.00 price target on the technology company’s stock, down from their previous price target of $116.00. Piper Jaffray Companies’ target price would suggest a potential upside of 0.54% from the company’s previous close.

Several other analysts have also weighed in on the stock. Cleveland Research raised shares of Check Point Software Technologies from a “neutral” rating to a “buy” rating in a report on Monday, April 24th. Evercore ISI dropped their price objective on shares of Check Point Software Technologies from $100.00 to $95.00 and set an “in-line” rating for the company in a report on Friday, April 28th. Northland Securities reissued a “hold” rating and issued a $120.00 price target on shares of Check Point Software Technologies in a report on Friday, June 30th. BMO Capital Markets reissued a “hold” rating and issued a $117.00 price target on shares of Check Point Software Technologies in a report on Thursday, April 27th. Finally, Cowen and Company raised their price target on shares of Check Point Software Technologies from $108.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Eighteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $109.25.

Check Point Software Technologies (CHKP) opened at 107.42 on Friday. The company has a market capitalization of $17.54 billion, a price-to-earnings ratio of 23.83 and a beta of 0.72. Check Point Software Technologies has a one year low of $74.34 and a one year high of $116.63. The company has a 50-day moving average price of $109.86 and a 200-day moving average price of $105.56.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Thursday, July 20th. The technology company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.04. The company had revenue of $458.60 million during the quarter, compared to analyst estimates of $454.62 million. Check Point Software Technologies had a net margin of 42.17% and a return on equity of 22.02%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $1.09 earnings per share. Equities research analysts anticipate that Check Point Software Technologies will post $5.18 EPS for the current year.

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A number of large investors have recently bought and sold shares of CHKP. Fiduciary Trust Co. bought a new stake in Check Point Software Technologies during the second quarter valued at approximately $145,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Check Point Software Technologies by 1.4% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,425 shares of the technology company’s stock valued at $151,000 after buying an additional 20 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Check Point Software Technologies by 32.0% in the first quarter. Quadrant Capital Group LLC now owns 1,531 shares of the technology company’s stock valued at $153,000 after buying an additional 371 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in Check Point Software Technologies during the first quarter valued at approximately $154,000. Finally, IFP Advisors Inc boosted its stake in Check Point Software Technologies by 2.4% in the first quarter. IFP Advisors Inc now owns 1,513 shares of the technology company’s stock valued at $155,000 after buying an additional 36 shares in the last quarter. 72.46% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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