Check Point Software Technologies (NASDAQ:CHKP) Downgraded to Neutral Rating by Bank of America

Bank of America lowered shares of Check Point Software Technologies (NASDAQ:CHKP) from a buy rating to a neutral rating in a research note published on Wednesday morning, MarketBeat.com reports. The firm currently has $195.00 target price on the technology company’s stock, down from their previous target price of $205.00.

Other equities research analysts also recently issued reports about the stock. Truist Financial raised their price objective on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group lifted their price target on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a report on Thursday, July 25th. Scotiabank lifted their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and an average price target of $197.74.

Check Point Software Technologies Trading Down 2.2 %

CHKP stock opened at $173.89 on Wednesday. Check Point Software Technologies has a 1-year low of $129.13 and a 1-year high of $210.70. The business’s 50 day simple moving average is $195.21 and its 200 day simple moving average is $174.67. The firm has a market capitalization of $19.12 billion, a PE ratio of 24.02, a PEG ratio of 3.17 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting the consensus estimate of $2.25. The firm had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.80 earnings per share. As a group, sell-side analysts predict that Check Point Software Technologies will post 7.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Maia Wealth LLC boosted its stake in shares of Check Point Software Technologies by 17.5% in the 3rd quarter. Maia Wealth LLC now owns 8,125 shares of the technology company’s stock valued at $1,669,000 after purchasing an additional 1,210 shares in the last quarter. HF Advisory Group LLC lifted its stake in Check Point Software Technologies by 1.2% in the 3rd quarter. HF Advisory Group LLC now owns 6,061 shares of the technology company’s stock valued at $1,169,000 after purchasing an additional 73 shares during the last quarter. Pittenger & Anderson Inc. boosted its position in Check Point Software Technologies by 14.3% in the third quarter. Pittenger & Anderson Inc. now owns 22,750 shares of the technology company’s stock valued at $4,386,000 after buying an additional 2,850 shares in the last quarter. Martin Investment Management LLC grew its stake in shares of Check Point Software Technologies by 2.0% during the third quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock worth $31,497,000 after buying an additional 3,225 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of Check Point Software Technologies by 13.6% during the third quarter. QRG Capital Management Inc. now owns 1,786 shares of the technology company’s stock worth $344,000 after buying an additional 214 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Check Point Software Technologies Company Profile

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.