Check Point Software Technologies (NASDAQ:CHKP) Stock Rating Lowered by The Goldman Sachs Group

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) was downgraded by investment analysts at The Goldman Sachs Group from a "buy" rating to a "neutral" rating in a report released on Thursday, MarketBeat.com reports. They presently 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 price target points to a potential upside of 12.15% from the company's current price.

Several other equities research analysts have also recently issued reports on CHKP. Needham & Company LLC reiterated a "hold" rating on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Mizuho boosted 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. Robert W. Baird cut their price objective on Check Point Software Technologies from $210.00 to $205.00 and set a "neutral" rating for the company in a research report on Wednesday, October 30th. Evercore ISI lifted their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus raised their price target on Check Point Software Technologies from $182.00 to $190.00 and gave the company a "hold" rating in a report on Wednesday, December 18th. Sixteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Check Point Software Technologies presently has a consensus rating of "Hold" and a consensus price target of $199.45.

Check Point Software Technologies Stock Performance

Shares of CHKP traded down $2.12 during mid-day trading on Thursday, reaching $184.58. The stock had a trading volume of 677,641 shares, compared to its average volume of 683,073. The firm has a market cap of $20.30 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 3.21 and a beta of 0.63. Check Point Software Technologies has a 12 month low of $145.75 and a 12 month high of $210.70. The business has a fifty day moving average of $183.25 and a 200 day moving average of $183.79.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.25. The business had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. Check Point Software Technologies's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.80 EPS. On average, research analysts forecast that Check Point Software Technologies will post 7.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Several large investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Check Point Software Technologies by 73.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company's stock valued at $211,105,000 after buying an additional 464,821 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Check Point Software Technologies by 10.5% during the 2nd quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company's stock valued at $677,869,000 after purchasing an additional 391,983 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Check Point Software Technologies in the 2nd quarter worth $47,244,000. World Investment Advisors LLC purchased a new position in Check Point Software Technologies during the 3rd quarter worth $51,922,000. Finally, FMR LLC increased its position in Check Point Software Technologies by 28.7% during the 3rd quarter. FMR LLC now owns 1,133,175 shares of the technology company's stock valued at $218,488,000 after buying an additional 252,581 shares in the last quarter. Institutional investors own 98.51% 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.