Check Point Software Technologies Ltd. (NASDAQ:CHKP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) have earned an average recommendation of “Hold” from the twenty-two research firms that are covering the stock, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $169.18.

A number of research analysts have weighed in on the stock. Mizuho reissued a “neutral” rating and set a $160.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. Barclays boosted their price objective on Check Point Software Technologies from $170.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and issued a $185.00 target price on shares of Check Point Software Technologies in a report on Friday, April 26th. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a report on Friday, April 26th. Finally, KeyCorp upgraded shares of Check Point Software Technologies to a “hold” rating in a research note on Tuesday, May 14th.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP opened at $158.85 on Friday. The business’s 50-day simple moving average is $154.01 and its 200-day simple moving average is $156.93. Check Point Software Technologies has a 52 week low of $122.86 and a 52 week high of $168.82. The firm has a market cap of $17.94 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 2.50 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, meeting the consensus estimate of $1.72. Check Point Software Technologies had a return on equity of 31.42% and a net margin of 34.33%. The company had revenue of $598.80 million for the quarter, compared to the consensus estimate of $595.28 million. As a group, equities research analysts forecast that Check Point Software Technologies will post 7.79 earnings per share for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently modified their holdings of CHKP. Concord Wealth Partners acquired a new position in Check Point Software Technologies during the first quarter worth $31,000. Bruce G. Allen Investments LLC bought a new position in Check Point Software Technologies during the 4th quarter valued at about $30,000. Richardson Financial Services Inc. bought a new position in Check Point Software Technologies during the 4th quarter valued at about $33,000. Salem Investment Counselors Inc. boosted its position in Check Point Software Technologies by 483.7% in the fourth quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock valued at $44,000 after buying an additional 237 shares in the last quarter. Finally, Operose Advisors LLC bought a new stake in Check Point Software Technologies during the third quarter worth about $55,000. Institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Company Profile

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.