Check Point Software Technologies (NASDAQ:CHKP) Sees Strong Trading Volume – Here’s Why

Check Point Software Technologies Ltd. (NASDAQ:CHKP) saw unusually-high trading volume on Thursday . Approximately 2,272,207 shares were traded during mid-day trading, an increase of 156% from the previous session’s volume of 889,233 shares.The stock last traded at $197.53 and had previously closed at $191.10.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Scotiabank raised their price target on Check Point Software Technologies from $205.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 29th. Weiss Ratings raised Check Point Software Technologies from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating and set a $220.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, October 22nd. Roth Capital reissued a “neutral” rating on shares of Check Point Software Technologies in a research note on Monday, October 27th. Finally, Stifel Nicolaus set a $211.00 price target on shares of Check Point Software Technologies in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Check Point Software Technologies currently has an average rating of “Hold” and an average price target of $230.48.

Check Point Software Technologies Stock Up 1.6%

The business’s fifty day moving average is $195.24 and its 200-day moving average is $204.13. The stock has a market capitalization of $21.36 billion, a PE ratio of 21.41, a P/E/G ratio of 2.86 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Tuesday, October 28th. The technology company reported $3.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $1.49. The company had revenue of $677.50 million for the quarter, compared to the consensus estimate of $673.60 million. Check Point Software Technologies had a net margin of 37.62% and a return on equity of 37.91%. Check Point Software Technologies’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.25 earnings per share. Check Point Software Technologies has set its FY 2025 guidance at 11.220-11.320 EPS and its Q4 2025 guidance at 2.700-2.800 EPS. As a group, sell-side analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Institutional investors have recently added to or reduced their stakes in the company. Fulton Bank N.A. raised its holdings in shares of Check Point Software Technologies by 3.2% in the 2nd quarter. Fulton Bank N.A. now owns 1,493 shares of the technology company’s stock worth $330,000 after purchasing an additional 46 shares during the period. Sterling Investment Advisors Ltd. increased its position in Check Point Software Technologies by 2.6% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 1,970 shares of the technology company’s stock worth $436,000 after purchasing an additional 50 shares in the last quarter. HUB Investment Partners LLC raised its holdings in Check Point Software Technologies by 1.5% in the third quarter. HUB Investment Partners LLC now owns 3,558 shares of the technology company’s stock valued at $736,000 after buying an additional 53 shares during the period. Modern Wealth Management LLC lifted its position in Check Point Software Technologies by 3.6% during the third quarter. Modern Wealth Management LLC now owns 1,513 shares of the technology company’s stock valued at $313,000 after buying an additional 53 shares in the last quarter. Finally, Trust Point Inc. lifted its position in Check Point Software Technologies by 2.3% during the third quarter. Trust Point Inc. now owns 2,420 shares of the technology company’s stock valued at $501,000 after buying an additional 54 shares in 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. 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.