Check Point Software Technologies Ltd. (NASDAQ:CHKP) Given Consensus Recommendation of “Hold” by Brokerages

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has received an average recommendation of “Hold” from the twenty-four ratings firms that are currently covering the stock, Marketbeat reports. Seventeen research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $199.24.

CHKP has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and upped their target price for the company from $204.00 to $207.00 in a research note on Thursday, January 2nd. Robert W. Baird cut their price objective on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. BMO Capital Markets lifted their target price on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Jefferies Financial Group upped their price target on Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Barclays decreased their price objective on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th.

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP opened at $183.19 on Thursday. The business’s 50-day simple moving average is $182.44 and its 200 day simple moving average is $184.61. The company has a market cap of $20.15 billion, a P/E ratio of 25.03, a PEG ratio of 3.21 and a beta of 0.63. Check Point Software Technologies has a one year low of $145.75 and a one year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.25. The business had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $1.80 EPS. Analysts predict that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Institutional Trading of Check Point Software Technologies

Hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Check Point Software Technologies by 73.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after purchasing an additional 464,821 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Check Point Software Technologies in the 2nd quarter valued at approximately $47,244,000. World Investment Advisors LLC acquired a new position in Check Point Software Technologies in the third quarter worth approximately $51,922,000. FMR LLC raised its position in Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after acquiring an additional 252,581 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Check Point Software Technologies by 10.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock valued at $354,153,000 after acquiring an additional 177,104 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

About Check Point Software Technologies

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.