Check Point Software Technologies (CHKP) – Research Analysts’ Recent Ratings Updates

A number of firms have modified their ratings and price targets on shares of Check Point Software Technologies (NASDAQ: CHKP) recently:

  • 4/24/2019 – Check Point Software Technologies was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Check Point’s first-quarter 2019 results benefited from strong growth in security subscriptions, driven by solid demand for cloud, mobile and zero-day advanced threat prevention technologies. The company’s focus on enhancing mobile capabilities is helping it tap greater opportunities. Acquisitions have helped it in broadening its portfolio and enter newer market, which has eventually driven its revenues. The recent buyouts of Dome9 and ForceNock will help expand the company’s security capabilities. Check Point continues to win new customer accounts, which is boosting its revenues. However, Check Point derives a significant portion of total sales from the 10 biggest distributors, giving rise to the risk of customer concentration. Intensifying competition in the cybersecurity market is a concern. Shares have underperformed the industry year to date.”
  • 4/24/2019 – Check Point Software Technologies was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 4/22/2019 – Check Point Software Technologies had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $125.00 price target on the stock, up previously from $120.00.
  • 4/22/2019 – Check Point Software Technologies had its “hold” rating reaffirmed by analysts at Northland Securities. They now have a $120.00 price target on the stock.
  • 4/19/2019 – Check Point Software Technologies was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 4/15/2019 – Check Point Software Technologies had its price target raised by analysts at Oppenheimer Holdings Inc. from $130.00 to $145.00. They now have an “outperform” rating on the stock.
  • 4/15/2019 – Check Point Software Technologies had its price target raised by analysts at Deutsche Bank AG from $110.00 to $125.00. They now have a “hold” rating on the stock.
  • 4/12/2019 – Check Point Software Technologies was upgraded by analysts at OTR Global to a “positive” rating.
  • 4/12/2019 – Check Point Software Technologies had its price target raised by analysts at Barclays PLC from $120.00 to $135.00. They now have an “equal weight” rating on the stock.
  • 4/11/2019 – Check Point Software Technologies was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Check Point is benefiting from strong growth in security subscriptions, driven by strong demand for cloud, mobile and zero-day advanced threat prevention technologies. The company’s focus on enhancing mobile capabilities is helping it tap greater opportunities. Acquisitions have helped it in broadening its portfolio and enter newer market, which has eventually driven its revenues. However, Check Point expects first-quarter 2019 margins to be under pressure due to the expenses for Dome9 buyout, and the recent buyout of ForceNock. The company derives a significant portion of total sales from the 10 biggest distributors, giving rise to the risk of customer concentration. Intensifying competition in the cybersecurity market is a concern. Shares have underperformed the industry in the past year.”
  • 4/5/2019 – Check Point Software Technologies was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 4/3/2019 – Check Point Software Technologies was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Check Point expects first-quarter 2019 margins to be under pressure due to the expenses for Dome9 buyout, as well as the recent buyout of ForceNock. The company derives a significant portion of total sales from the 10 biggest distributors, giving rise to the risk of customer concentration. Intensifying competition in the cybersecurity market is a concern. Shares have underperformed the industry in the past year. Nonetheless, Check Point is benefiting from strong growth in security subscriptions, driven by strong demand for cloud, mobile and zero-day advanced threat prevention technologies. The company’s focus on enhancing mobile capabilities is helping it tap greater opportunities.”
  • 3/26/2019 – Check Point Software Technologies is now covered by analysts at Mizuho. They set a “neutral” rating and a $122.00 price target on the stock.
  • 3/20/2019 – Check Point Software Technologies was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.

Shares of Check Point Software Technologies stock opened at $119.65 on Monday. Check Point Software Technologies Ltd. has a twelve month low of $95.03 and a twelve month high of $132.76. The stock has a market capitalization of $19.56 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 2.46 and a beta of 0.79.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Thursday, April 18th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.31 by $0.01. The company had revenue of $471.83 million during the quarter, compared to analysts’ expectations of $471.16 million. Check Point Software Technologies had a net margin of 42.05% and a return on equity of 22.41%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 EPS. Equities analysts expect that Check Point Software Technologies Ltd. will post 5.51 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of CHKP. Oregon Public Employees Retirement Fund raised its position in shares of Check Point Software Technologies by 39,495.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,990,827 shares of the technology company’s stock valued at $39,000 after buying an additional 3,980,748 shares in the last quarter. Pendal Group Ltd acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at approximately $219,063,000. Nordea Investment Management AB acquired a new position in shares of Check Point Software Technologies in the 3rd quarter valued at approximately $197,544,000. Norges Bank acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at approximately $125,399,000. Finally, Fundsmith LLP acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at approximately $49,177,000. Institutional investors own 67.98% of the company’s stock.

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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