Check Point Software Technologies Ltd. (NASDAQ:CHKP) Short Interest Update

Check Point Software Technologies Ltd. (NASDAQ:CHKP) was the target of a significant decrease in short interest in the month of 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. Approximately 3.6% of the company’s shares are short sold. Based on an average trading volume of 704,800 shares, the days-to-cover ratio is currently 4.3 days.

Check Point Software Technologies Stock Performance

CHKP stock opened at $186.70 on Thursday. The firm has a 50-day simple moving average of $183.67 and a two-hundred day simple moving average of $183.79. Check Point Software Technologies has a one year low of $145.75 and a one year high of $210.70. The firm has a market cap 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) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same period in the previous year, the company earned $1.80 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts predict that Check Point Software Technologies will post 7.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on CHKP. Barclays cut their price target on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Evercore ISI increased their price target 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. Jefferies Financial Group raised their price target on Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Finally, Truist Financial lifted their target price on 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. Fifteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target of $199.05.

Institutional Investors Weigh In On Check Point Software Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHKP. FSA Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the third quarter valued at about $27,000. Kathleen S. Wright Associates Inc. acquired a new position in Check Point Software Technologies during the 3rd quarter valued at approximately $33,000. Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies in the third quarter worth $37,000. Arrow Financial Corp lifted its stake in shares of 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 buying an additional 100 shares during the period. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of Check Point Software Technologies during the third quarter valued at $60,000. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

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.