Check Point Software Technologies (NASDAQ:CHKP) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Check Point Software Technologies (NASDAQ:CHKP) from an overweight rating to a neutral rating in a research note issued to investors on Monday, Marketbeat reports. The brokerage currently has $135.00 price objective on the technology company’s stock.

CHKP has been the subject of several other reports. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 price target on shares of Check Point Software Technologies in a research report on Thursday, July 23rd. Susquehanna lowered their target price on Check Point Software Technologies from $255.00 to $140.00 and set a “positive” rating for the company in a research note on Friday, May 1st. UBS Group dropped their target price on Check Point Software Technologies from $170.00 to $130.00 and set a “neutral” rating for the company in a report on Friday, May 1st. TD Cowen set a $180.00 price target on Check Point Software Technologies in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group set a $168.00 price target on Check Point Software Technologies in a research note on Friday, May 1st. Nine analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $151.81.

Check Point Software Technologies Trading Up 1.5%

CHKP stock opened at $139.67 on Monday. The company has a market capitalization of $14.26 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 4.07 and a beta of 0.49. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.85 and a current ratio of 1.85. Check Point Software Technologies has a one year low of $112.23 and a one year high of $210.66. The company’s 50 day moving average price is $131.31 and its two-hundred day moving average price is $145.81.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. The company had revenue of $668.40 million during the quarter, compared to analysts’ expectations of $672.55 million. Check Point Software Technologies had a net margin of 38.37% and a return on equity of 38.79%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 EPS. As a group, analysts predict that Check Point Software Technologies will post 8.44 earnings per share for the current fiscal year.

Insider Activity

In other Check Point Software Technologies news, Director Yoav Chelouche sold 25,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $140.28, for a total value of $3,507,000.00. Following the transaction, the director owned 4,008 shares in the company, valued at approximately $562,242.24. The trade was a 86.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 29.00% of the company’s stock.

Institutional Trading of Check Point Software Technologies

Several large investors have recently modified their holdings of the business. Abound Financial LLC bought a new position in Check Point Software Technologies during the 4th quarter valued at approximately $27,000. Measured Wealth Private Client Group LLC purchased a new stake in Check Point Software Technologies in the 3rd quarter worth approximately $27,000. MV Capital Management Inc. bought a new stake in shares of Check Point Software Technologies in the 4th quarter worth approximately $28,000. Ascentis Independent Advisors bought a new stake in shares of Check Point Software Technologies in the 1st quarter worth approximately $30,000. Finally, Elevation Wealth Partners LLC increased its stake in shares of Check Point Software Technologies by 42.7% during the second quarter. Elevation Wealth Partners LLC now owns 254 shares of the technology company’s stock valued at $33,000 after buying an additional 76 shares during the period. 98.51% of the stock is owned by institutional investors.

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).