BidaskClub Downgrades Check Point Software Technologies (NASDAQ:CHKP) to Sell

Check Point Software Technologies (NASDAQ:CHKP) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, BidAskClub reports.

CHKP has been the topic of a number of other research reports. Deutsche Bank reiterated a “buy” rating and set a $18.00 price objective on shares of STMicroelectronics in a research report on Monday, April 15th. Cowen reduced their target price on Nordstrom from $44.00 to $36.00 and set a “market perform” rating on the stock in a research report on Thursday, May 23rd. Oppenheimer lifted their target price on Check Point Software Technologies from $130.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. OTR Global downgraded Check Point Software Technologies to a “positive” rating in a research report on Tuesday. Finally, Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $122.00.

Shares of Check Point Software Technologies stock opened at $116.88 on Wednesday. Check Point Software Technologies has a one year low of $98.57 and a one year high of $132.76. The stock has a market capitalization of $17.66 billion, a P/E ratio of 22.14, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78. The stock’s 50 day moving average is $115.10.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Thursday, April 18th. The technology company reported $1.32 EPS for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.01. Check Point Software Technologies had a return on equity of 22.41% and a net margin of 42.05%. The firm had revenue of $471.83 million for the quarter, compared to the consensus estimate of $471.16 million. During the same quarter last year, the business posted $1.30 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. Research analysts forecast that Check Point Software Technologies will post 5.52 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Pinnacle Bank grew its stake in shares of Check Point Software Technologies by 69.7% in the second quarter. Pinnacle Bank now owns 258 shares of the technology company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. NuWave Investment Management LLC grew its stake in shares of Check Point Software Technologies by 64.5% in the second quarter. NuWave Investment Management LLC now owns 306 shares of the technology company’s stock valued at $36,000 after buying an additional 120 shares in the last quarter. First Personal Financial Services grew its stake in shares of Check Point Software Technologies by 64.8% in the first quarter. First Personal Financial Services now owns 374 shares of the technology company’s stock valued at $47,000 after buying an additional 147 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies in the first quarter valued at $63,000. Finally, Bremer Bank National Association acquired a new stake in shares of Check Point Software Technologies in the first quarter valued at $72,000. 71.27% of the stock is owned by institutional investors and hedge funds.

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

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