Is Check Point Software Technologies Ltd (NASDAQ:CHKP) a Great Growth Stock?

[Market Wired] Check Point Software Technologies Ltd (NASDAQ:CHKP)(TREND ANALYSIS) announced Check Point SandBlast, a new Advanced Threat Prevention solution that provides a level of cyber protection unmatched in today’s market. By using CPU-level threat detection to uncover threats at the pre-infection level, Check Point SandBlast elevates threat defense with evasion-resistant malware detection and comprehensive protection from even the most dangerous attacks, significantly reducing the risk of expensive breaches.

In the ongoing battle between hackers and security professionals, attackers are increasingly utilizing more sophisticated tools such as new zero-day attack methods and custom variants of existing malware to circumvent traditional sandboxing technology and slip into their victims’ infrastructures undetected. These new attack vectors require a proactive approach with modern solutions and technologies that not only catch known threats, but are also able to identify and stop unknown malware the first time it is seen in the wild. Check Point’s new cutting-edge CPU-level exploit detection engine is uniquely capable of identifying the most dangerous, zero-day threats in their infancy, before malware has an opportunity to deploy and even attempt to evade detection.

Stock Performance: Click here for a free comprehensive Trend Analysis Report

Check Point Software Technologies Ltd (NASDAQ:CHKP) stock is currently trading 11.03% below its 52-week-high, 20.96% above its 52-week-low. The 1-year stock price history is in the range of $65.09 – $88.49. Check Point Software Technologies Ltd (CHKP) has a price to earnings ratio of 22.1 versus Technology sector average of 20.38. CHKP stock price has underperformed the Nasdaq by 1.7%. The Applications Software company is currently valued at $14.2 billion and its share price closed the last trading session at $78.73. The stock has a 50-day moving average of $80.1 and a 200-day moving average of $82.6.

Check Point Software Technologies Ltd (CHKP) current short interest stands at 6.13 million shares. It has decreased by 1% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.29 million shares, the number of days required to cover the short positions stand at 4.8 days.

The company is expected to announce next quarter earnings on October 22, at consensus estimate of $0.88. Check Point Software Technologies Ltd (CHKP) reported last quarter earnings on July 22. The Applications Software company announced earnings per share of $0.9 against a consensus Street estimate of $0.87, beating the average estimate by $0.03. This corresponds to an increase of $0.06 compared to the same quarter of the previous fiscal year.

Is this a Buying Opportunity? Click here for a free Trend Analysis Report

There are currently thirty analysts that cover Check Point Software Technologies Ltd stock. Of those thirty, eighteen have a Buy rating, eleven have a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $93.05.

A recent analyst activity consisted of OTR Global downgrading their Positive rating to Mixed on July 16. On the date of report, the stock closed at $78.65.

JMP Securities initiated their coverage on the stock with Market Perform rating on July 1. On the date of report, the stock closed at $80.21.

Another research firm was Barclays who initiated their coverage on the stock with Equal-weight rating on June 26. Barclays fixed their price target at $90. This translates to a 14.31% upside from the last closing price. On the date of report, the stock closed at $79.66.

Company profile

Check Point Software Technologies Ltd. develops, markets and supports a range of software and hardware products and services for information technology (IT) security and offers its customers a network and gateway security solutions, data and endpoint security solutions and management solutions.

Related Posts

About The Author