Check Point Software Technologies Ltd. (CHKP): Today's Featured Technology Winner

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Check Point Software Technologies ( CHKP) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day up 0.1%. By the end of trading, Check Point Software Technologies rose $1.12 (1.9%) to $58.64 on average volume. Throughout the day, 2,112,645 shares of Check Point Software Technologies exchanged hands as compared to its average daily volume of 1,665,300 shares. The stock ranged in a price between $57.55-$58.73 after having opened the day at $57.84 as compared to the previous trading day's close of $57.52. Other companies within the Technology sector that increased today were: Kingtone Wirelessinfo Solution ( KONE), up 62.1%, Alvarion ( ALVR), up 26.5%, Active Network ( ACTV), up 24.3% and Alaska Communications Systems Group ( ALSK), up 23.5%.

Check Point Software Technologies Ltd. develops, markets, and supports a range of software, and combined hardware and software products and services for information technology (IT) security worldwide. Check Point Software Technologies has a market cap of $11.1 billion and is part of the computer software & services industry. Shares are up 18.2% year to date as of the close of trading on Thursday. Currently there are 12 analysts that rate Check Point Software Technologies a buy, no analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates Check Point Software Technologies as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

On the negative front, Audience ( ADNC), down 18.7%, eMagin Corporation ( EMAN), down 17.5%, SciQuest ( SQI), down 16.4% and ValueClick ( VCLK), down 14.9% , were all laggards within the technology sector with Taiwan Semiconductor Manufacturing ( TSM) being today's technology sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
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