Check Point Software Technologies (NASDAQ:CHKP) Stock Gets Price Target Cut from Morgan Stanley

Check Point Software Technologies (NASDAQ:CHKP) had its price target decreased by Morgan Stanley from $133.00 to $131.00 in a research report released on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

A number of other equities analysts have also issued reports on the company. TD Cowen reaffirmed a “buy” rating on shares of Check Point Software Technologies in a research report on Thursday, July 30th. Jefferies Financial Group raised their price target on shares of Check Point Software Technologies from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, October 27th. BTIG Research restated a “neutral” rating on shares of Check Point Software Technologies in a research note on Tuesday. JPMorgan Chase & Co. cut shares of Check Point Software Technologies from an “overweight” rating to a “neutral” rating and set a $135.00 price target on the stock. in a report on Monday, July 27th. Finally, Susquehanna increased their price objective on shares of Check Point Software Technologies from $150.00 to $165.00 and gave the company a “positive” rating in a research note on Tuesday. Ten analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $151.32.

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP opened at $148.18 on Tuesday. The business’s 50-day simple moving average is $138.58 and its 200 day simple moving average is $140.90. The company has a market cap of $15.13 billion, a P/E ratio of 17.83, a PEG ratio of 4.22 and a beta of 0.43. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.67 and a current ratio of 1.60. Check Point Software Technologies has a one year low of $112.23 and a one year high of $206.43.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Monday, November 2nd. The technology company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. Check Point Software Technologies had a return on equity of 34.08% and a net margin of 31.74%. The firm had revenue of $669.80 million during the quarter, compared to analysts’ expectations of $672.06 million. During the same quarter in the prior year, the business earned $3.94 EPS. Check Point Software Technologies’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, sell-side analysts forecast that Check Point Software Technologies will post 8.45 earnings per share for the current fiscal year.

Insider Transactions at Check Point Software Technologies

In other Check Point Software Technologies news, insider Nataly Kremer sold 3,185 shares of the stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $150.08, for a total transaction of $478,004.80. Following the transaction, the insider owned 19,347 shares of the company’s stock, valued at $2,903,597.76. This trade represents a 14.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Check Point Software Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Park Avenue Securities LLC raised its holdings in Check Point Software Technologies by 4.0% during the 3rd quarter. Park Avenue Securities LLC now owns 1,800 shares of the technology company’s stock worth $231,000 after buying an additional 69 shares during the period. Elevation Wealth Partners LLC boosted its holdings in shares of Check Point Software Technologies by 42.7% in the second quarter. Elevation Wealth Partners LLC now owns 254 shares of the technology company’s stock worth $33,000 after buying an additional 76 shares during the period. Yousif Capital Management LLC boosted its holdings in shares of Check Point Software Technologies by 2.0% in the third quarter. Yousif Capital Management LLC now owns 3,839 shares of the technology company’s stock worth $493,000 after buying an additional 77 shares during the period. Aprio Wealth Management LLC increased its position in shares of Check Point Software Technologies by 3.9% in the third quarter. Aprio Wealth Management LLC now owns 2,116 shares of the technology company’s stock worth $272,000 after acquiring an additional 79 shares in the last quarter. Finally, JNBA Financial Advisors increased its position in shares of Check Point Software Technologies by 90.0% in the second quarter. JNBA Financial Advisors now owns 190 shares of the technology company’s stock worth $25,000 after acquiring an additional 90 shares in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

About Check Point Software Technologies

Check Point Software Technologies Ltd. is a cybersecurity company that develops products and services designed to protect organizations, governments and consumers from cyber threats. Its offerings help secure networks, cloud environments, endpoints, mobile devices, data and remote access, with capabilities including threat prevention, firewall protection, intrusion prevention, email security and security management.

The company organizes its portfolio under platforms that include Quantum for network security, CloudGuard for cloud security and Harmony for user, endpoint and remote-access protection.