6,461 Shares in Check Point Software Technologies Ltd. (NASDAQ:CHKP) Purchased by MBB Public Markets I LLC

MBB Public Markets I LLC bought a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,461 shares of the technology company’s stock, valued at approximately $1,066,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CHKP. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Check Point Software Technologies during the second quarter worth about $30,000. Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies in the 1st quarter worth about $31,000. Richardson Financial Services Inc. purchased a new position in shares of Check Point Software Technologies in the 4th quarter worth about $33,000. Transcendent Capital Group LLC purchased a new position in shares of Check Point Software Technologies in the 1st quarter worth about $107,000. Finally, Alaska Permanent Fund Corp purchased a new position in shares of Check Point Software Technologies in the 1st quarter worth about $117,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CHKP. BMO Capital Markets upped their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Scotiabank upped their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 25th. Wedbush upped their price objective on Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Susquehanna increased their target price on Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a report on Thursday, July 25th. Finally, Jefferies Financial Group increased their target price on Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Sixteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $184.47.

Check Point Software Technologies Price Performance

CHKP opened at $192.81 on Tuesday. The business has a 50 day simple moving average of $187.17 and a two-hundred day simple moving average of $169.20. The firm has a market capitalization of $21.77 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 3.05 and a beta of 0.62. Check Point Software Technologies Ltd. has a one year low of $126.57 and a one year high of $196.56.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The business had revenue of $627.40 million during the quarter, compared to analyst estimates of $623.19 million. During the same quarter in the prior year, the company posted $1.74 EPS. Check Point Software Technologies’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Check Point Software Technologies Ltd. will post 7.83 EPS for the current fiscal year.

Check Point Software Technologies 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.