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

According to Zacks, “Check Point is a provider of information technology (IT) security solutions across the world. 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.”

Several other research analysts have also weighed in on the company. Wunderlich reissued a “hold” rating and issued a $85.00 price objective on shares of Check Point Software Technologies in a research report on Tuesday, November 1st. William Blair reissued an “outperform” rating on shares of Check Point Software Technologies in a research report on Tuesday, November 1st. Robert W. Baird reissued a “neutral” rating on shares of Check Point Software Technologies in a research report on Tuesday, November 1st. Piper Jaffray Cos. restated an “overweight” rating and issued a $100.00 target price on shares of Check Point Software Technologies in a research note on Tuesday, November 1st. Finally, Nomura restated a “buy” rating and issued a $95.00 target price on shares of Check Point Software Technologies in a research note on Monday, October 31st. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $90.21.

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

Check Point Software Technologies (NASDAQ:CHKP) traded up 0.61% on Thursday, hitting $83.66. The stock had a trading volume of 404,116 shares. Check Point Software Technologies has a 52 week low of $71.64 and a 52 week high of $89.98. The stock has a market capitalization of $14632.30 billion, a price-to-earnings ratio of 20.76 and a beta of 0.91. The company has a 50-day moving average price of $79.85 and a 200-day moving average price of $79.75.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Monday, October 31st. The company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.05. The business earned $428 million during the quarter, compared to analyst estimates 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 for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $1.04 EPS. Equities research analysts anticipate that Check Point Software Technologies will post $4.52 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Schroder Investment Management Group raised its stake in Check Point Software Technologies by 21.2% in the third quarter. Schroder Investment Management Group now owns 5,693,288 shares of the company’s stock valued at $441,856,000 after buying an additional 996,144 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt raised its stake in Check Point Software Technologies by 27.7% in the third quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,245,000 shares of the company’s stock valued at $329,412,000 after buying an additional 920,000 shares during the last quarter. FMR LLC raised its stake in Check Point Software Technologies by 17.8% in the second quarter. FMR LLC now owns 4,170,635 shares of the company’s stock valued at $332,316,000 after buying an additional 629,802 shares during the last quarter. Harding Loevner LP acquired a new stake in Check Point Software Technologies during the third quarter valued at about $188,714,000. Finally, Vulcan Value Partners LLC raised its stake in Check Point Software Technologies by 111.9% in the second quarter. Vulcan Value Partners LLC now owns 2,206,298 shares of the company’s stock valued at $175,798,000 after buying an additional 1,165,059 shares during the last quarter. Institutional investors and hedge funds own 72.14% of the company’s stock.

About Check Point Software Technologies

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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