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

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has been given a consensus recommendation of “Hold” by the twenty-three analysts that are currently covering the company, MarketBeat reports. Fifteen analysts have rated the stock with a hold rating and eight have assigned 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 $197.74.

Several research firms have issued reports on CHKP. Robert W. Baird dropped 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 note on Wednesday, October 30th. Evercore ISI increased their target price on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Truist Financial boosted their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Finally, Mizuho boosted their target price on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th.

Hedge Funds Weigh In On Check Point Software Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of CHKP. FSA Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the 3rd quarter worth about $27,000. Kathleen S. Wright Associates Inc. acquired a new position in Check Point Software Technologies during the third quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Check Point Software Technologies in the second quarter valued at approximately $30,000. Concord Wealth Partners acquired a new stake in Check Point Software Technologies in the third quarter worth $37,000. Finally, Arrow Financial Corp boosted its position 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 worth $50,000 after purchasing an additional 100 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $174.56 on Wednesday. The firm has a fifty day moving average of $190.92 and a 200-day moving average of $176.76. Check Point Software Technologies has a 52-week low of $141.94 and a 52-week high of $210.70. The stock has a market cap of $19.20 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 2.97 and a beta of 0.63.

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

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.