Check Point Software Technologies Ltd. (NASDAQ:CHKP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “Check Point recently reported splendid third quarter results, wherein its revenues and earnings topped its own expectations as well as the Zacks Consensus Estimate. The year-over-year upside in the top and bottom lines was further encouraging. The company also provided a robust outlook for the fourth quarter. We believe that the rapid adoption of Check Point’s data center appliances and continuous enhancements in data center product lines will provide ample support to its top line. The company’s focus on enhancing mobile capabilities will aid it to tap greater larger opportunities. Furthermore, Check Point’s strategy of growing through acquisitions is praiseworthy. Nonetheless, near-term prospects for the company are not promising as changing customer spending behavior has recently hit several other players in this space. Intensifying competition and an uncertain macroeconomic environment add to its woes.”

CHKP has been the subject of a number of other reports. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $94.00 price target on shares of Check Point Software Technologies in a research report on Monday, October 10th. Robert W. Baird started coverage on Check Point Software Technologies in a research report on Tuesday, August 23rd. They set a “neutral” rating and a $83.00 price target for the company. Piper Jaffray Cos. started coverage on Check Point Software Technologies in a research report on Wednesday, September 28th. They set an “overweight” rating and a $95.00 price target for the company. Wells Fargo & Co. reaffirmed a “market perform” rating on shares of Check Point Software Technologies in a research report on Monday, September 26th. Finally, William Blair reaffirmed an “outperform” rating on shares of Check Point Software Technologies in a research report on Tuesday, November 1st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have issued a buy rating to the stock. Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target of $90.21.

Analyst Recommendations for Check Point Software Technologies (NASDAQ:CHKP)

Shares of Check Point Software Technologies (NASDAQ:CHKP) opened at 84.07 on Friday. Check Point Software Technologies has a 52-week low of $71.64 and a 52-week high of $89.98. The stock’s 50 day moving average price is $79.45 and its 200-day moving average price is $79.73. The company has a market capitalization of $14.22 billion, a P/E ratio of 21.19 and a beta of 0.91.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Monday, October 31st. The company reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.05. The company earned $428 million during the quarter, compared to the consensus estimate of $422.79 million. Check Point Software Technologies had a return on equity of 20.32% and a net margin of 40.73%. Check Point Software Technologies’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the business posted $1.04 earnings per share. On average, equities analysts expect that Check Point Software Technologies will post $4.52 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Genesee Valley Trust Co. increased its position in Check Point Software Technologies by 0.3% in the second quarter. Genesee Valley Trust Co. now owns 3,446 shares of the company’s stock valued at $275,000 after buying an additional 10 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Check Point Software Technologies by 0.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,926 shares of the company’s stock valued at $393,000 after buying an additional 21 shares in the last quarter. Lincoln National Corp increased its position in Check Point Software Technologies by 0.6% in the second quarter. Lincoln National Corp now owns 4,084 shares of the company’s stock valued at $325,000 after buying an additional 25 shares in the last quarter. Fulton Bank N.A. increased its position in Check Point Software Technologies by 0.7% in the second quarter. Fulton Bank N.A. now owns 5,660 shares of the company’s stock valued at $451,000 after buying an additional 37 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its position in Check Point Software Technologies by 3.9% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,388 shares of the company’s stock valued at $108,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 72.14% of the company’s stock.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

5 Day Chart for NASDAQ:CHKP

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