Check Point Software Technologies (NASDAQ:CHKP) Cut to Neutral at The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Check Point Software Technologies (NASDAQ:CHKP) from a buy rating to a neutral rating in a research report released on Thursday, MarketBeat.com reports. The Goldman Sachs Group currently has $207.00 price target on the technology company’s stock, up from their prior price target of $204.00.

Several other research firms have also recently issued reports on CHKP. BMO Capital Markets boosted their target price on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Bank of America lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $205.00 to $195.00 in a report on Wednesday, October 30th. Barclays reduced their target price on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Truist Financial upped their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $187.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Sixteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target of $199.45.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock opened at $181.40 on Thursday. The business has a 50 day simple moving average of $182.74 and a 200-day simple moving average of $183.96. Check Point Software Technologies has a 12 month low of $145.75 and a 12 month high of $210.70. The stock has a market capitalization of $19.95 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting the consensus estimate of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The company had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. During the same quarter last year, the business earned $1.80 EPS. The business’s revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that Check Point Software Technologies will post 7.87 EPS for the current year.

Institutional Trading of Check Point Software Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new stake in Check Point Software Technologies in the 3rd quarter valued at about $27,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Check Point Software Technologies in the third quarter worth approximately $33,000. GAMMA Investing LLC grew its holdings in Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after purchasing an additional 60 shares during the period. Concord Wealth Partners acquired a new position in Check Point Software Technologies during the third quarter worth approximately $37,000. Finally, Arrow Financial Corp raised its stake in Check Point Software Technologies by 62.5% during the third quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after purchasing an additional 100 shares during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.

About Check Point Software Technologies

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.