Short Interest in Check Point Software Technologies Ltd. (NASDAQ:CHKP) Decreases By 6.8%

Check Point Software Technologies Ltd. (NASDAQ:CHKP - Get Free Report) was the recipient of a large decrease in short interest in December. As of December 15th, there was short interest totalling 3,020,000 shares, a decrease of 6.8% from the November 30th total of 3,240,000 shares. Currently, 3.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 704,800 shares, the days-to-cover ratio is currently 4.3 days.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CHKP shares. Stifel Nicolaus boosted their target price on shares of Check Point Software Technologies from $182.00 to $190.00 and gave the company a "hold" rating in a research note on Wednesday, December 18th. Evercore ISI boosted their price objective on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. Truist Financial raised their target price on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Mizuho boosted their price target on Check Point Software Technologies from $178.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Finally, Needham & Company LLC restated a "hold" rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $199.05.

Check Point Software Technologies Trading Down 0.3 %

NASDAQ:CHKP traded down $0.56 during mid-day trading on Tuesday, hitting $186.70. The company had a trading volume of 262,864 shares, compared to its average volume of 683,073. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $210.70. The business has a fifty day simple moving average of $184.04 and a 200-day simple moving average of $183.77. The firm has a market capitalization of $20.53 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.21 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting 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 firm had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.80 EPS. As a group, research analysts anticipate that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHKP. Cambridge Investment Research Advisors Inc. increased its position in shares of Check Point Software Technologies by 7.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 15,569 shares of the technology company's stock worth $2,569,000 after purchasing an additional 1,077 shares during the last quarter. Principal Financial Group Inc. raised its stake in Check Point Software Technologies by 16.9% during the second quarter. Principal Financial Group Inc. now owns 31,355 shares of the technology company's stock valued at $5,174,000 after buying an additional 4,541 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Check Point Software Technologies by 10.9% during the 2nd quarter. Van ECK Associates Corp now owns 55,113 shares of the technology company's stock worth $9,094,000 after buying an additional 5,405 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Check Point Software Technologies by 36.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,151 shares of the technology company's stock worth $850,000 after buying an additional 1,375 shares during the last quarter. Finally, Ritholtz Wealth Management grew its position in shares of Check Point Software Technologies by 13.8% in the 2nd quarter. Ritholtz Wealth Management now owns 7,849 shares of the technology company's stock worth $1,295,000 after acquiring an additional 950 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

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.