Check Point Software Technologies (NASDAQ:CHKP) Sets New 1-Year Low – What’s Next?

Check Point Software Technologies Ltd. (NASDAQ:CHKP)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $124.99 and last traded at $122.06, with a volume of 257695 shares. The stock had previously closed at $139.96.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CHKP shares. The Goldman Sachs Group cut their price objective on Check Point Software Technologies from $208.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. TD Cowen reaffirmed a “buy” rating on shares of Check Point Software Technologies in a research note on Thursday, February 19th. Cantor Fitzgerald dropped their price target on Check Point Software Technologies from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 21st. Wells Fargo & Company assumed coverage on Check Point Software Technologies in a research note on Tuesday, March 3rd. They issued an “equal weight” rating and a $165.00 price target on the stock. Finally, Citigroup cut Check Point Software Technologies from a “neutral” rating to a “negative” rating in a report on Tuesday, April 14th. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $199.32.

Check Point Software Technologies Price Performance

The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $147.86 and a two-hundred day moving average price of $173.78. The company has a market capitalization of $12.83 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 3.05 and a beta of 0.65.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.10. The business had revenue of $668.40 million during the quarter, compared to analyst estimates of $672.62 million. Check Point Software Technologies had a return on equity of 38.98% and a net margin of 38.78%.Check Point Software Technologies’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. As a group, research analysts anticipate that Check Point Software Technologies Ltd. will post 8.58 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CHKP. AQR Capital Management LLC purchased a new stake in Check Point Software Technologies in the 1st quarter worth about $262,000. EverSource Wealth Advisors LLC increased its holdings in Check Point Software Technologies by 24.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 598 shares of the technology company’s stock worth $132,000 after acquiring an additional 117 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Check Point Software Technologies by 20.9% in the 2nd quarter. Squarepoint Ops LLC now owns 26,464 shares of the technology company’s stock worth $5,855,000 after acquiring an additional 4,577 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Check Point Software Technologies by 6.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,240 shares of the technology company’s stock worth $8,018,000 after acquiring an additional 2,198 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its holdings in Check Point Software Technologies by 17.3% in the 2nd quarter. Diversify Advisory Services LLC now owns 2,153 shares of the technology company’s stock worth $476,000 after acquiring an additional 317 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

About Check Point Software Technologies

Check Point Software Technologies Ltd. is an Israeli-founded cybersecurity company that develops, markets and supports a broad portfolio of network, cloud and endpoint security products. Founded in 1993, the company was an early pioneer of stateful inspection firewall technology and later developed a modular “software blade” approach that allowed customers to combine protection capabilities. Check Point’s product set spans physical and virtual security appliances, software and cloud-native services designed to prevent cyberattacks, protect data and simplify security management for enterprises and service providers.

Key product families include Quantum Security Gateways (on-premises and hybrid appliances), CloudGuard (cloud security posture and workload protection), Harmony (endpoint, remote access and unified endpoint security), and SandBlast (advanced threat prevention and sandboxing).