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

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has been assigned an average rating of “Hold” from the twenty-two analysts that are presently covering the firm, MarketBeat.com reports. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $169.18.

Several research analysts have recently weighed in on CHKP shares. TD Cowen boosted their price objective on shares of Check Point Software Technologies from $180.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Wedbush reiterated an “outperform” rating and set a $185.00 target price on shares of Check Point Software Technologies in a research note on Friday, April 26th. Stifel Nicolaus lowered their target price on Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Mizuho restated a “neutral” rating and set a $160.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, March 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research report on Friday, April 26th.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP opened at $165.00 on Friday. The stock has a 50 day moving average price of $154.15 and a 200 day moving average price of $157.38. The stock has a market capitalization of $18.63 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61. Check Point Software Technologies has a 52 week low of $122.86 and a 52 week high of $168.82.

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

Institutional Trading of Check Point Software Technologies

Several hedge funds have recently modified their holdings of CHKP. Charles Schwab Investment Management Inc. increased its stake in Check Point Software Technologies by 23.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 134,382 shares of the technology company’s stock valued at $17,910,000 after purchasing an additional 25,180 shares in the last quarter. Rhumbline Advisers increased its position in Check Point Software Technologies by 5.6% in the 3rd quarter. Rhumbline Advisers now owns 38,247 shares of the technology company’s stock valued at $5,098,000 after buying an additional 2,042 shares in the last quarter. Kestra Advisory Services LLC raised its stake in Check Point Software Technologies by 7.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 4,836 shares of the technology company’s stock worth $645,000 after buying an additional 334 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in Check Point Software Technologies in the third quarter worth approximately $959,000. Finally, Dark Forest Capital Management LP grew its stake in Check Point Software Technologies by 2.1% in the third quarter. Dark Forest Capital Management LP now owns 5,126 shares of the technology company’s stock valued at $683,000 after acquiring an additional 103 shares during the period. Institutional investors 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.