Stephens Has Lowered Expectations for Check Point Software Technologies (NASDAQ:CHKP) Stock Price

Key Points

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Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) had its price objective dropped by Stephens from $229.00 to $210.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the technology company's stock. Stephens' price objective would suggest a potential upside of 11.36% from the stock's previous close.

A number of other research firms have also recently commented on CHKP. BMO Capital Markets reiterated an "outperform" rating and set a $250.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. Roth Capital initiated coverage on Check Point Software Technologies in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 price objective for the company. Wall Street Zen raised Check Point Software Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Scotiabank set a $220.00 price target on Check Point Software Technologies and gave the company a "sector outperform" rating in a report on Thursday. Finally, Morgan Stanley cut their price target on Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Fifteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Check Point Software Technologies has an average rating of "Moderate Buy" and an average price target of $228.08.

Check Point Software Technologies Stock Performance

Shares of CHKP stock traded up $2.38 during mid-day trading on Thursday, hitting $188.58. The company's stock had a trading volume of 1,821,631 shares, compared to its average volume of 966,519. Check Point Software Technologies has a 52-week low of $169.01 and a 52-week high of $234.35. The business has a 50-day moving average price of $220.54 and a 200 day moving average price of $217.91. The stock has a market cap of $20.74 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 2.71 and a beta of 0.59.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The company had revenue of $665.20 million during the quarter, compared to analysts' expectations of $663.10 million. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%. Check Point Software Technologies's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.17 earnings per share. Equities research analysts predict that Check Point Software Technologies will post 8.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its position in Check Point Software Technologies by 184.4% during the first quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company's stock valued at $13,149,000 after purchasing an additional 37,407 shares during the period. Sowell Financial Services LLC purchased a new stake in Check Point Software Technologies during the first quarter valued at approximately $301,000. QRG Capital Management Inc. raised its position in Check Point Software Technologies by 19.1% during the first quarter. QRG Capital Management Inc. now owns 2,442 shares of the technology company's stock valued at $557,000 after purchasing an additional 391 shares during the period. World Investment Advisors raised its position in Check Point Software Technologies by 4.4% during the fourth quarter. World Investment Advisors now owns 30,041 shares of the technology company's stock valued at $5,609,000 after purchasing an additional 1,278 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Check Point Software Technologies by 15.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,937 shares of the technology company's stock valued at $899,000 after purchasing an additional 541 shares during the period. 98.51% of the stock is currently 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.