Check Point Software Technologies (NASDAQ:CHKP) Hits New 52-Week Low – Here’s Why

Check Point Software Technologies Ltd. (NASDAQ:CHKP) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $173.56 and last traded at $174.2760, with a volume of 295019 shares trading hands. The stock had previously closed at $180.24.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CHKP. UBS Group increased their price target on Check Point Software Technologies from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Citigroup dropped their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, January 13th. Mizuho set a $225.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, October 29th. Roth Mkm reiterated a “neutral” rating on shares of Check Point Software Technologies in a report on Monday, October 27th. Finally, Barclays cut their price objective on shares of Check Point Software Technologies from $235.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $226.62.

Check Point Software Technologies Price Performance

The stock has a fifty day simple moving average of $187.10 and a 200-day simple moving average of $193.67. The company has a market capitalization of $19.74 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 2.86 and a beta of 0.59.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Tuesday, October 28th. The technology company reported $3.94 EPS for the quarter, beating the consensus estimate of $2.45 by $1.49. Check Point Software Technologies had a net margin of 37.62% and a return on equity of 37.91%. The company had revenue of $677.50 million for the quarter, compared to analyst estimates of $673.60 million. During the same quarter last year, the business earned $2.25 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. As a group, equities analysts expect that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CHKP. Keybank National Association OH lifted its holdings in Check Point Software Technologies by 18.5% during the fourth quarter. Keybank National Association OH now owns 1,264 shares of the technology company’s stock valued at $235,000 after purchasing an additional 197 shares in the last quarter. Flossbach Von Storch SE lifted its stake in Check Point Software Technologies by 33.5% in the 4th quarter. Flossbach Von Storch SE now owns 5,362 shares of the technology company’s stock worth $995,000 after purchasing an additional 1,345 shares in the last quarter. M&T Bank Corp boosted its stake in Check Point Software Technologies by 29.7% during the fourth quarter. M&T Bank Corp now owns 5,317 shares of the technology company’s stock worth $986,000 after buying an additional 1,219 shares during the last quarter. Aprio Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the 4th quarter valued at about $308,000. Finally, Kestra Private Wealth Services LLC boosted its holdings in Check Point Software Technologies by 180.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,861 shares of the technology company’s stock valued at $902,000 after purchasing an additional 3,130 shares during the last quarter. Hedge funds and other 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).