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

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has received a consensus recommendation of “Hold” from the twenty-three research firms that are covering the stock, MarketBeat reports. Fifteen research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $197.74.

A number of brokerages have recently commented on CHKP. Susquehanna raised their price target on Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a report on Thursday, July 25th. Jefferies Financial Group upped their price target on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $187.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Finally, Wedbush raised their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $174.56 on Wednesday. The company has a market capitalization of $19.20 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 2.97 and a beta of 0.63. The company’s fifty day moving average price is $190.92 and its two-hundred day moving average price is $176.76. Check Point Software Technologies has a 12 month low of $141.94 and a 12 month high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting analysts’ consensus estimates of $2.25. The company had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. Check Point Software Technologies’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.80 earnings per share. As a group, analysts anticipate that Check Point Software Technologies will post 7.87 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its stake in Check Point Software Technologies by 2.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock valued at $912,070,000 after purchasing an additional 114,938 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Check Point Software Technologies by 10.5% during the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock valued at $677,869,000 after buying an additional 391,983 shares during the last quarter. Boston Partners lifted its stake in shares of Check Point Software Technologies by 13.1% in the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock valued at $594,169,000 after buying an additional 419,404 shares during the period. Ninety One UK Ltd grew its position in Check Point Software Technologies by 1.1% during the second quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock worth $595,450,000 after buying an additional 39,092 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Check Point Software Technologies by 10.7% during 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 period. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.