Check Point Software Technologies (CHKP) Rating Lowered to Hold at Argus

Check Point Software Technologies (NASDAQ:CHKP) was downgraded by equities research analysts at Argus from a “buy” rating to a “hold” rating in a research report issued on Wednesday, May 9th, MarketBeat.com reports. They currently have a $124.00 price target on the technology company’s stock, up from their prior price target of $119.20. Argus’ price objective suggests a potential upside of 29.60% from the stock’s current price.

CHKP has been the topic of several other research reports. BidaskClub lowered Check Point Software Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, January 16th. Cleveland Research downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, January 25th. JPMorgan Chase decreased their price objective on Check Point Software Technologies to $113.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. Wells Fargo downgraded Check Point Software Technologies from an “outperform” rating to a “market perform” rating and raised their price target for the company from $103.41 to $117.00 in a research note on Thursday, February 1st. Finally, Zacks Investment Research raised Check Point Software Technologies from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Three investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $109.99.

Shares of Check Point Software Technologies opened at $95.68 on Wednesday, Marketbeat Ratings reports. Check Point Software Technologies has a 52-week low of $93.76 and a 52-week high of $119.20. The stock has a market cap of $15.64 billion, a PE ratio of 19.21, a PEG ratio of 1.94 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Wednesday, April 25th. The technology company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.02. Check Point Software Technologies had a return on equity of 22.83% and a net margin of 43.15%. The business had revenue of $452.30 million for the quarter, compared to analysts’ expectations of $452.13 million. During the same period in the previous year, the business posted $1.20 earnings per share. Check Point Software Technologies’s quarterly revenue was up 3.9% on a year-over-year basis. sell-side analysts anticipate that Check Point Software Technologies will post 5.11 earnings per share for the current year.

Hedge funds have recently modified their holdings of the stock. Certified Advisory Corp raised its position in shares of Check Point Software Technologies by 487.8% in the first quarter. Certified Advisory Corp now owns 1,205 shares of the technology company’s stock worth $119,000 after buying an additional 1,000 shares in the last quarter. Signaturefd LLC bought a new position in Check Point Software Technologies in the first quarter valued at $127,000. Financial Gravity Companies Inc. bought a new position in Check Point Software Technologies in the fourth quarter valued at $130,000. We Are One Seven LLC bought a new position in Check Point Software Technologies in the fourth quarter valued at $201,000. Finally, Comerica Securities Inc. bought a new position in Check Point Software Technologies in the first quarter valued at $202,000. Institutional investors own 67.92% of the company’s stock.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. provides hardware and software products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides security gateways to protect the networks and prevent the threats of enterprises, data centers, and small and large branch offices; security gateway appliances, including platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and security management software, which offers security management through a single console that streamlines security operations and provides visibility into policy administration and threat analysis.

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

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