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

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

Other equities research analysts have also recently issued reports about the company. Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $205.00 to $195.00 in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Jefferies Financial Group upped their target price on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Robert W. Baird reduced their target price on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus boosted their price target on shares of Check Point Software Technologies from $182.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Sixteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies currently has a consensus rating of “Hold” and an average target price of $199.45.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock opened at $186.70 on Thursday. The business’s fifty day moving average is $183.67 and its two-hundred day moving average is $183.79. The firm 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 52 week low of $145.75 and a 52 week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last issued 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 for the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.80 EPS. On average, equities research analysts predict that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

Several large investors have recently made changes to their positions in the stock. FSA Wealth Management LLC acquired a new stake in Check Point Software Technologies in the 3rd quarter valued at approximately $27,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Check Point Software Technologies in the third quarter valued at approximately $33,000. Concord Wealth Partners bought a new stake in shares of Check Point Software Technologies in the third quarter worth $37,000. Arrow Financial Corp lifted 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 purchasing an additional 100 shares in the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in Check Point Software Technologies during the third quarter worth $60,000. Institutional investors 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.