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

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Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) had its target price decreased by stock analysts at UBS Group from $220.00 to $210.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the technology company's stock. UBS Group's target price suggests a potential upside of 11.37% from the company's current price.

A number of other research firms have also recently weighed in on CHKP. BMO Capital Markets reaffirmed an "outperform" rating and issued a $250.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Check Point Software Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Stifel Nicolaus set a $200.00 target price on Check Point Software Technologies in a research report on Wednesday. Stephens dropped their price objective on Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Scotiabank set a $220.00 target price on Check Point Software Technologies in a research note on Thursday. Fifteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $230.29.

Check Point Software Technologies Trading Up 1.0%

CHKP stock traded up $1.90 during mid-day trading on Thursday, hitting $188.57. 685,898 shares of the company were exchanged, compared to its average volume of 910,452. The firm has a fifty day simple moving average of $222.10 and a 200 day simple moving average of $217.84. Check Point Software Technologies has a twelve month low of $169.01 and a twelve month high of $234.35. The company has a market capitalization of $20.74 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 3.12 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its earnings results 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 the consensus estimate of $663.10 million. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. Check Point Software Technologies's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.17 earnings per share. As a group, sell-side analysts anticipate that Check Point Software Technologies will post 8.61 earnings per share for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Nemes Rush Group LLC acquired a new position in Check Point Software Technologies during the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC bought a new position in Check Point Software Technologies during the fourth quarter worth about $29,000. Horizon Investments LLC increased its holdings in shares of Check Point Software Technologies by 116.4% in the first quarter. Horizon Investments LLC now owns 158 shares of the technology company's stock worth $36,000 after acquiring an additional 85 shares in the last quarter. Cromwell Holdings LLC acquired a new stake in shares of Check Point Software Technologies during the first quarter worth about $37,000. Finally, Quarry LP grew its position in shares of Check Point Software Technologies by 100.0% in the 4th quarter. Quarry LP now owns 206 shares of the technology company's stock valued at $38,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 98.51% of the company's stock.

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.

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