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

Check Point Software Technologies (NASDAQ:CHKP) was downgraded by analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued on Thursday, Marketbeat Ratings reports. They presently have a $207.00 target price on the technology company’s stock, up from their prior target price of $204.00. The Goldman Sachs Group’s price objective indicates a potential upside of 14.11% from the company’s previous close.

Other research analysts also recently issued reports about the company. Barclays cut their price objective on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Wedbush increased their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Truist Financial lifted their price objective on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird lowered their price target on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Sixteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $199.45.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $181.40 on Thursday. The business has a 50 day moving average price of $183.25 and a 200 day moving average price of $183.79. The company has a market capitalization of $19.95 billion, a P/E ratio of 24.78, a PEG ratio of 3.21 and a beta of 0.63. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $210.70.

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

Institutional Inflows and Outflows

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

Check Point Software Technologies Company Profile

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.