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

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has been assigned a consensus rating of “Hold” from the twenty-two brokerages that are currently covering the firm, Marketbeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $169.18.

Several equities analysts recently weighed in on CHKP shares. TD Cowen increased their price target on shares of Check Point Software Technologies from $180.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research report on Friday, April 26th. Barclays lifted their price target on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Mizuho reissued a “neutral” rating and set a $160.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, March 27th. Finally, 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.

Check Point Software Technologies Stock Up 0.1 %

Shares of NASDAQ CHKP opened at $158.85 on Friday. The company has a market capitalization of $17.94 billion, a PE ratio of 22.06, a PEG ratio of 2.50 and a beta of 0.61. The stock’s 50 day moving average price is $154.01 and its 200-day moving average price is $156.93. Check Point Software Technologies has a twelve month low of $122.86 and a twelve month high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, hitting the consensus estimate of $1.72. The business had revenue of $598.80 million for the quarter, compared to analysts’ expectations 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 expect that Check Point Software Technologies will post 7.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

Large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in Check Point Software Technologies by 52.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 55,681 shares of the technology company’s stock worth $8,508,000 after purchasing an additional 19,111 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new stake in Check Point Software Technologies during the fourth quarter valued at $1,505,000. Unique Wealth Strategies LLC purchased a new position in Check Point Software Technologies during the fourth quarter worth about $1,005,000. Tritonpoint Wealth LLC bought a new position in Check Point Software Technologies in the 4th quarter worth about $2,586,000. Finally, Heritage Wealth Management LLC purchased a new stake in shares of Check Point Software Technologies in the 4th quarter valued at about $904,000. 87.62% of the stock is currently owned by 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.