Short Interest in Check Point Software Technologies Ltd. (NASDAQ:CHKP) Rises By 12.0%

Check Point Software Technologies Ltd. (NASDAQ:CHKP) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,180,000 shares, an increase of 12.0% from the October 31st total of 2,840,000 shares. Currently, 3.7% of the shares of the company are short sold. Based on an average daily trading volume, of 688,600 shares, the days-to-cover ratio is currently 4.6 days.

Check Point Software Technologies Stock Up 2.7 %

Shares of CHKP stock opened at $187.09 on Wednesday. Check Point Software Technologies has a twelve month low of $143.28 and a twelve month high of $210.70. The company has a market cap of $20.58 billion, a P/E ratio of 25.56, a P/E/G ratio of 3.11 and a beta of 0.63. The business has a fifty day simple moving average of $188.80 and a 200 day simple moving average of $178.89.

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 for the quarter, meeting the consensus estimate of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. During the same quarter in the prior year, the firm posted $1.80 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that Check Point Software Technologies will post 7.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Mizuho raised their price target 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. Bank of America cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $205.00 to $195.00 in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Wedbush lifted their price objective on shares of 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. Fifteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Check Point Software Technologies has an average rating of “Hold” and an average price target of $197.74.

Institutional Investors Weigh In On Check Point Software Technologies

Large investors have recently added to or reduced their stakes in the business. FSA Wealth Management LLC bought a new position in Check Point Software Technologies in the third quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Check Point Software Technologies in the second quarter worth $30,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Check Point Software Technologies in the third quarter valued at $33,000. Concord Wealth Partners bought a new stake in Check Point Software Technologies during the third quarter valued at $37,000. Finally, Arrow Financial Corp lifted its stake in Check Point Software Technologies by 62.5% during 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 during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

About Check Point Software Technologies

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.