OTR Global Reaffirms “Negative” Rating for Check Point Software Technologies (NASDAQ:CHKP)

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “negative” rating reiterated by research analysts at OTR Global in a research note issued on Monday, BenzingaRatingsTable reports.

A number of other research analysts have also weighed in on the company. BidaskClub raised Check Point Software Technologies from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th. Evercore ISI set a $105.00 price objective on Check Point Software Technologies and gave the company a “hold” rating in a report on Wednesday, July 24th. Bank of America lowered Check Point Software Technologies from a “buy” rating to an “underperform” rating and cut their price objective for the company from $130.00 to $116.00 in a report on Thursday, September 19th. SunTrust Banks started coverage on Check Point Software Technologies in a report on Wednesday, October 2nd. They issued a “hold” rating and a $115.00 price objective on the stock. Finally, Zacks Investment Research raised Check Point Software Technologies from a “sell” rating to a “hold” rating and set a $114.00 price objective on the stock in a report on Monday, September 30th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. Check Point Software Technologies presently has an average rating of “Hold” and a consensus target price of $120.82.

Shares of CHKP stock opened at $108.90 on Monday. The stock’s 50-day simple moving average is $108.97 and its 200-day simple moving average is $114.61. The firm has a market capitalization of $16.94 billion, a PE ratio of 20.90, a P/E/G ratio of 2.38 and a beta of 0.78. Check Point Software Technologies has a fifty-two week low of $98.57 and a fifty-two week high of $132.76.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.14. The business had revenue of $488.10 million for the quarter, compared to analyst estimates of $487.53 million. Check Point Software Technologies had a return on equity of 22.05% and a net margin of 40.99%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.37 earnings per share. On average, equities analysts expect that Check Point Software Technologies will post 5.49 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of CHKP. Schroder Investment Management Group boosted its position in Check Point Software Technologies by 24.8% during the second quarter. Schroder Investment Management Group now owns 2,390,128 shares of the technology company’s stock worth $276,323,000 after purchasing an additional 474,495 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Check Point Software Technologies during the second quarter worth approximately $30,769,000. Altshuler Shaham Ltd boosted its position in Check Point Software Technologies by 21.3% during the second quarter. Altshuler Shaham Ltd now owns 1,513,667 shares of the technology company’s stock worth $174,995,000 after purchasing an additional 265,646 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Check Point Software Technologies during the second quarter worth approximately $29,645,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Check Point Software Technologies by 205.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 349,521 shares of the technology company’s stock worth $40,276,000 after purchasing an additional 235,278 shares in the last quarter. Hedge funds and other institutional investors own 70.97% 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 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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