BTIG Research cut shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) from a buy rating to a neutral rating in a research note released on Wednesday, Marketbeat reports.

“We are maintaining our $24 price target on SABR shares after a solid quarter with EBITDA 5% above consensus and management maintaining FY17 guidance. While no change to ’18E FCF, expected to grow in-line with mid-single-digit revenue growth, we believe a relatively vanilla quarter, with new agency contracts in higher unit economic regions (EMEA/APAC), are now benefiting Travel Network (TN) top- line, indicating management’s transition-plan is materializing. However, visibility into ’19E FCF accelerating is likely needed to materially shift some of the entrenched negative sentiment that exists around shares. Guidance suggests declining Airline solutions revenue near term, but this is largely priced in. Hospitality re-accelerated and commentary suggest mid-teens growth is sustainable. We believe SABR is well- positioned to scale long-term travel technology trends.”,” the firm’s analyst commented.

Other equities research analysts have also issued reports about the stock. Barclays PLC reiterated a hold rating and set a $110.00 target price on shares of Check Point Software Technologies in a research note on Sunday, July 23rd. Citigroup Inc upped their price objective on Check Point Software Technologies from $111.00 to $112.00 and gave the stock a neutral rating in a research note on Friday, July 21st. Cowen and Company restated a buy rating and issued a $113.00 price objective on shares of Check Point Software Technologies in a research note on Friday, September 8th. Credit Suisse Group began coverage on Check Point Software Technologies in a research note on Tuesday, September 5th. They issued a neutral rating and a $110.00 price target for the company. Finally, BMO Capital Markets reiterated a market perform rating and issued a $115.00 price target (down previously from $117.00) on shares of Check Point Software Technologies in a research note on Friday, July 21st. Twenty research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $113.60.

Shares of Check Point Software Technologies (NASDAQ:CHKP) traded down $0.97 on Wednesday, reaching $105.65. The company’s stock had a trading volume of 1,930,000 shares, compared to its average volume of 1,190,000. Check Point Software Technologies has a 12-month low of $80.78 and a 12-month high of $119.20. The company has a market capitalization of $17,540.00, a PE ratio of 22.45, a P/E/G ratio of 2.29 and a beta of 0.67.

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Hedge funds have recently modified their holdings of the stock. BB&T Investment Services Inc. purchased a new position in Check Point Software Technologies during the second quarter valued at approximately $100,000. Acrospire Investment Management LLC increased its holdings in Check Point Software Technologies by 150.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the technology company’s stock valued at $109,000 after buying an additional 600 shares during the period. Fiduciary Trust Co. purchased a new position in Check Point Software Technologies during the second quarter valued at approximately $145,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Check Point Software Technologies by 1.4% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,425 shares of the technology company’s stock valued at $151,000 after buying an additional 20 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new position in Check Point Software Technologies during the second quarter valued at approximately $155,000. 68.07% of the stock is currently owned by institutional investors.

About Check Point Software Technologies

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

Analyst Recommendations for Check Point Software Technologies (NASDAQ:CHKP)

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