Check Point Software Technologies (NASDAQ:CHKP) Reaches New 52-Week High – Should You Buy?

Check Point Software Technologies Ltd. (NASDAQ:CHKP) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $197.36 and last traded at $196.84, with a volume of 155849 shares. The stock had previously closed at $191.50.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wedbush upped their price target on Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Evercore ISI raised Check Point Software Technologies to a “hold” rating in a research report on Monday, September 16th. BMO Capital Markets boosted their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Robert W. Baird boosted their price objective on Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Scotiabank boosted their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 25th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Check Point Software Technologies has a consensus rating of “Hold” and an average price target of $184.47.

Check Point Software Technologies Trading Up 2.4 %

The firm has a market capitalization of $22.15 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 3.05 and a beta of 0.62. The firm has a fifty day moving average price of $188.35 and a 200 day moving average price of $170.11.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The firm had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. During the same quarter in the previous year, the company posted $1.74 EPS. Check Point Software Technologies’s revenue was up 6.6% on a year-over-year basis. As a group, equities analysts predict that Check Point Software Technologies Ltd. will post 7.83 EPS for the current fiscal year.

Institutional Trading of Check Point Software Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Check Point Software Technologies in the 2nd quarter worth $30,000. Concord Wealth Partners acquired a new position in Check Point Software Technologies in the 1st quarter worth $31,000. Richardson Financial Services Inc. acquired a new position in Check Point Software Technologies in the 4th quarter worth $33,000. Transcendent Capital Group LLC acquired a new position in Check Point Software Technologies in the 1st quarter worth $107,000. Finally, Alaska Permanent Fund Corp acquired a new position in Check Point Software Technologies in the 1st quarter worth $117,000. 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.