Check Point Software Technologies Ltd. (NASDAQ:CHKP) Sees Significant Decrease in Short Interest

Check Point Software Technologies Ltd. (NASDAQ:CHKP) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 3,080,000 shares, a decline of 7.2% from the March 15th total of 3,320,000 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average daily volume of 720,100 shares, the days-to-cover ratio is currently 4.3 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Wedbush reaffirmed an “outperform” rating and set a $185.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, April 10th. TD Cowen lifted their price target on shares of Check Point Software Technologies from $180.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Mizuho reissued a “neutral” rating and set a $160.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, March 27th. Finally, Royal Bank of Canada lifted their target price on Check Point Software Technologies from $159.00 to $165.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $160.16.

Check Point Software Technologies Trading Up 0.8 %

Check Point Software Technologies stock opened at $158.09 on Thursday. Check Point Software Technologies has a 12-month low of $117.18 and a 12-month high of $168.82. The firm has a 50-day moving average price of $162.32 and a 200-day moving average price of $151.90. The firm has a market capitalization of $19.09 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 2.55 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.10. Check Point Software Technologies had a return on equity of 30.81% and a net margin of 34.80%. The company had revenue of $663.50 million during the quarter, compared to analysts’ expectations of $662.09 million. During the same quarter in the previous year, the business earned $2.23 EPS. Check Point Software Technologies’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that Check Point Software Technologies will post 7.85 earnings per share for the current fiscal year.

Institutional Trading of Check Point Software Technologies

Large investors have recently modified their holdings of the company. Voya Financial Advisors Inc. raised its position in Check Point Software Technologies by 1.0% during the 4th quarter. Voya Financial Advisors Inc. now owns 6,902 shares of the technology company’s stock valued at $1,053,000 after purchasing an additional 70 shares in the last quarter. BSW Wealth Partners raised its holdings in shares of Check Point Software Technologies by 3.7% in the fourth quarter. BSW Wealth Partners now owns 2,162 shares of the technology company’s stock valued at $330,000 after acquiring an additional 78 shares in the last quarter. Guardian Wealth Management Inc. lifted its stake in Check Point Software Technologies by 0.5% in the fourth quarter. Guardian Wealth Management Inc. now owns 18,633 shares of the technology company’s stock worth $2,847,000 after acquiring an additional 85 shares during the period. Koshinski Asset Management Inc. grew its holdings in Check Point Software Technologies by 3.6% during the 3rd quarter. Koshinski Asset Management Inc. now owns 2,559 shares of the technology company’s stock worth $341,000 after acquiring an additional 89 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in Check Point Software Technologies by 6.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,383 shares of the technology company’s stock valued at $211,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors 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.