The stock of Check Point Software Technologies Ltd. (NASDAQ:CHKP) is now priced at $106.35 and the shares are 0.45 points up or 0.42% higher compared to its previous closing price of $105.9. The stock had 539447 contracts set over the past session. CHKP shares’ daily volume is compared to its average trading volume at 1038928 shares. However, it has a float of 112000000 and although it’s -0.15% over the week, it’s one to watch. Analysts have given the CHKP stock a yearly average price target of $110 per share. It means the stock’s upside potential is 3.43% with the CHKP share price recently placing at $105.1 to $106.865. However, some brokerage firms have priced the stock below the average, including one that has called $85.
The shorts are running away from the Check Point Software Technologies Ltd. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the CHKP shares have declined. Short interest in the stock represents just 9.53% of its float, but the volume has dropped by -305229. The volume of shorted shares dropped to 10634390 from 10939619 shares over the last two weeks. The average intraday trading volume has been 837609 shares, which means that days to cover moved to roughly 12.696127.
In the last trading session, Check Point Software Technologies Ltd. (NASDAQ:CHKP) dropped by -$0.16 over the week and lost -$2.04 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $120.99. The stock recorded its established 52-week high on 07/10/19.
Since 03/12/20, the stock has traded to a low of $80.06 at -12.1%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.62. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Check Point Software Technologies Ltd.’s two-week RSI is 47.17. This suggests that the stock is neutral at the moment and that CHKP shares’ price movement remains stable. The stochastic readings are equally revealing at 30.09% meaning the CHKP share price is currently in neutral territory.
The technical chart shows that the CHKP stock will likely settle at between $107.11 and $107.87 per share. However, if the stock dips below $105.35, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $104.34.
Currently, the stock is trading in the red of MACD, with a reading of -0.6. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned CHKP a rating of In-line in their intiating review released on May 04. BTIG Research analysts see the stock as a Buy with a target price of $117 in a flash note released to investors on March 27 initiating covering the stock. SunTrust seeing the improvements upgraded the stock from Hold to Buy on March 17, placing it at $115.
The average rating for the CHKP equity is 2.88 and is currently gathering a bullish momentum. Of 30 analysts tracking Check Point Software Technologies Ltd. polled by Reuters, 21 rated CHKP as a hold. The remaining 9 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 4 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the CHKP stock price is 15.83X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 19.3below the group’s average of 34.2. Check Point Software Technologies Ltd. has its P/E ratio at 4.4, which means that the stock is currently trading at a discount relative to the 12.2 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Check Point Software Technologies Ltd. (NASDAQ:CHKP) will decrease by about -99.9%, which will see them reach $0.488 billion. The company’s full-year revenues are, however, expected to increase by about 1.01%, up from $1.99 billion to $2.01 billion. CHKP’s expected adjusted earnings should surge almost 3.62% to end up at $1.43 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 3.75% to record $6.36/share.