Check Point Software Technologies (NASDAQ:CHKP) Lifted to “Hold” at Evercore ISI

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by research analysts at Evercore ISI to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.

A number of other brokerages have also commented on CHKP. Robert W. Baird boosted their price objective on shares of Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Barclays increased their price target on Check Point Software Technologies from $175.00 to $192.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. BMO Capital Markets raised their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, July 25th. Finally, Susquehanna lifted their price target on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. Sixteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $183.68.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $191.70 on Monday. Check Point Software Technologies has a 1-year low of $126.57 and a 1-year high of $195.29. The company has a market capitalization of $21.64 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 2.96 and a beta of 0.62. The business has a 50-day moving average of $183.24 and a 200-day moving average of $167.17.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, beating 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 company had revenue of $627.40 million during the quarter, compared to the consensus estimate of $623.19 million. During the same quarter last year, the company earned $1.74 earnings per share. Check Point Software Technologies’s revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts expect that Check Point Software Technologies will post 7.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

Several large investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Check Point Software Technologies in the second quarter worth approximately $30,000. Concord Wealth Partners bought a new position in Check Point Software Technologies during the first quarter valued at about $31,000. Richardson Financial Services Inc. acquired a new position in Check Point Software Technologies during the fourth quarter worth about $33,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Check Point Software Technologies in the fourth quarter worth about $92,000. Finally, Transcendent Capital Group LLC acquired a new stake in Check Point Software Technologies in the 1st quarter valued at about $107,000. Institutional investors and hedge funds 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.