5 Stocks That Recently Hit All-Time Highs

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In this article, we discuss 5 stocks that recently hit all-time highs. If you want our detailed analysis of these stocks, go directly to 10 Stocks That Recently Hit All-Time Highs

5. Check Point Software Technologies Ltd. (NASDAQ:CHKP)

All-Time Share Price High: $148.98 on March 02, 2022

Number of Hedge Fund Holders: 31

Check Point Software Technologies Ltd. (NASDAQ:CHKP) is an Israel-based company that specializes in network security, endpoint security, cloud security, mobile security, and data security. The stock reached its record-high price of $148.98 on March 02, 2022.

In its Q4 earnings report, published on February 3, Check Point Software Technologies Ltd. (NASDAQ:CHKP) reported an EPS of $2.25, topping consensus estimates by $0.10. Revenue over the period came in at $599.10 million, exceeding market predictions by $12.68 million.

On February 16, BMO Capital analyst Keith Bachman upgraded Check Point Software Technologies Ltd. (NASDAQ:CHKP) to Outperform from Market Perform with a price target of $157, up from $150. The analyst stated that security demand should remain strong in 2022 and also noted that the company’s relative positioning in the security market is improving.

According to the fourth quarter database of Insider Monkey, 31 hedge funds were long Check Point Software Technologies Ltd. (NASDAQ:CHKP), up from 30 funds in the quarter earlier. Arrowstreet Capital is the leading shareholder of the company, with 1.9 million shares worth $224.5 million.

Here is what Polen International Growth Fund has to say about Check Point Software Technologies Ltd. (NASDAQ:CHKP) in its Q1 2021 investor letter:

“We also exited Check Point Software because we believe we found a better investment alternative. Check Point continues to perform in line with expectations and has delivered approximately 10% earnings per share growth. The company’s intensive focus on maintaining its position in on-premise firewall security, a corner of the market that we think offers slower growth prospects, means the wave innovation and growth hitting security software is not driving Check Point’s business.

Check Point innovated firewall architectures in the 1990s, and we believe it continues to orient its business for leadership in the data center. Security software is rapidly evolving as changes to the enterprise computing architecture alter the way companies position their IT infrastructure. As infrastructures change, security demands shift, and new companies come to market with innovative ways to protect distributed networks. We believe Check Point’s legacy of technology leadership, though robust, may be preventing the company from evolving fast enough to capture these changes. We feel Check Point will continue to lead in on-premise security systems and grow in line with its recent past.”


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