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

Check Point Software Technologies Ltd. (NASDAQ:CHKP) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 3,080,000 shares, a decrease of 7.2% from the March 15th total of 3,320,000 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average daily volume of 720,100 shares, the days-to-cover ratio is currently 4.3 days.

Institutional Trading of Check Point Software Technologies

Hedge funds have recently bought and sold shares of the company. Concord Wealth Partners purchased a new stake in Check Point Software Technologies in the third quarter worth about $25,000. CNB Bank purchased a new stake in Check Point Software Technologies in the third quarter worth about $27,000. Resurgent Financial Advisors LLC bought a new position in shares of Check Point Software Technologies in the fourth quarter worth about $28,000. Bruce G. Allen Investments LLC bought a new position in shares of Check Point Software Technologies in the fourth quarter worth about $30,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Check Point Software Technologies in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock opened at $156.80 on Wednesday. The stock has a market cap of $18.94 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 2.62 and a beta of 0.61. Check Point Software Technologies has a one year low of $117.18 and a one year high of $168.82. The stock has a fifty day moving average of $162.45 and a 200 day moving average of $151.85.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.10. The company had revenue of $663.50 million during the quarter, compared to analysts’ expectations of $662.09 million. Check Point Software Technologies had a return on equity of 30.81% and a net margin of 34.80%. Check Point Software Technologies’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.23 earnings per share. As a group, sell-side analysts predict that Check Point Software Technologies will post 7.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CHKP shares. Citigroup increased their price objective on Check Point Software Technologies from $140.00 to $155.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Wells Fargo & Company increased their price objective on Check Point Software Technologies from $132.00 to $162.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. UBS Group raised their price target on Check Point Software Technologies from $140.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Scotiabank raised their price target on Check Point Software Technologies from $170.00 to $180.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, February 7th. Finally, Truist Financial raised their price target on Check Point Software Technologies from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $159.70.

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.