Check Point Software Technologies (NASDAQ:CHKP) Downgraded by The Goldman Sachs Group to “Neutral”

Check Point Software Technologies (NASDAQ:CHKP) was downgraded by research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Thursday, MarketBeat reports. They presently have a $207.00 price target on the technology company’s stock, up from their prior price target of $204.00. The Goldman Sachs Group’s price target points to a potential upside of 10.87% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Truist Financial raised their price target on Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Mizuho raised their target price on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price target 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. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their price objective on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Sixteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $199.45.

Check Point Software Technologies Stock Down 0.3 %

Shares of Check Point Software Technologies stock opened at $186.70 on Thursday. The stock has a market cap of $20.53 billion, a P/E ratio of 25.51, a P/E/G ratio of 3.21 and a beta of 0.63. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $210.70. The business’s 50 day moving average is $183.67 and its 200-day moving average is $183.79.

Check Point Software Technologies (NASDAQ:CHKP) last posted 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. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same period in the prior year, the firm posted $1.80 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Check Point Software Technologies will post 7.87 EPS for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

Large investors have recently modified their holdings of the business. FSA Wealth Management LLC bought a new stake in shares of Check Point Software Technologies during the 3rd quarter worth $27,000. Kathleen S. Wright Associates Inc. acquired a new position in Check Point Software Technologies during the third quarter worth about $33,000. Concord Wealth Partners bought a new position in shares of Check Point Software Technologies in the third quarter worth about $37,000. Arrow Financial Corp boosted its stake in shares of Check Point Software Technologies by 62.5% in the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock valued at $50,000 after purchasing an additional 100 shares in the last quarter. Finally, FSC Wealth Advisors LLC bought a new stake in shares of Check Point Software Technologies during the 3rd quarter valued at approximately $60,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

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.