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

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has earned an average rating of “Hold” from the twenty-four brokerages that are currently covering the firm, MarketBeat Ratings reports. Seventeen investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $199.24.

CHKP has been the subject of a number of research analyst reports. BMO Capital Markets boosted their target price on shares of 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. Robert W. Baird cut their price objective on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Bank of America lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $205.00 to $195.00 in a report on Wednesday, October 30th. Truist Financial lifted their price target on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group increased their price objective 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.

Check Point Software Technologies Stock Performance

CHKP opened at $183.19 on Thursday. The company has a market cap of $20.15 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63. The stock has a 50-day moving average of $182.44 and a 200-day moving average of $184.61. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $210.70.

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

Institutional Investors Weigh In On Check Point Software Technologies

A number of hedge funds have recently made changes to their positions in CHKP. FSA Wealth Management LLC bought a new position in shares of Check Point Software Technologies in the third quarter worth about $27,000. Kathleen S. Wright Associates Inc. bought a new position in Check Point Software Technologies in the 3rd quarter worth approximately $33,000. GAMMA Investing LLC boosted its position in Check Point Software Technologies by 53.1% in the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after buying an additional 60 shares during the last quarter. Concord Wealth Partners bought a new stake in shares of Check Point Software Technologies during the third quarter worth $37,000. Finally, Arrow Financial Corp lifted its stake in shares of Check Point Software Technologies by 62.5% during the third quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock valued at $50,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 98.51% 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.