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

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has been assigned a consensus rating of “Hold” from the twenty-three ratings firms that are covering the stock, Marketbeat Ratings reports. Sixteen equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $202.95.

A number of brokerages have weighed in on CHKP. BMO Capital Markets raised their price objective on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Bank of America downgraded shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $205.00 to $195.00 in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Piper Sandler raised their price objective on shares of Check Point Software Technologies from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Finally, Evercore ISI upped their target price on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th.

Institutional Investors Weigh In On Check Point Software Technologies

A number of hedge funds have recently made changes to their positions in the business. Bank of Montreal Can increased its position in Check Point Software Technologies by 32.2% in the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock valued at $16,532,000 after acquiring an additional 20,866 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Check Point Software Technologies during the third quarter valued at $1,599,000. MML Investors Services LLC raised its stake in shares of Check Point Software Technologies by 3.7% during the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after purchasing an additional 3,655 shares in the last quarter. Martin Investment Management LLC lifted its holdings in Check Point Software Technologies by 2.0% in the third quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock worth $31,497,000 after purchasing an additional 3,225 shares during the period. Finally, Chevy Chase Trust Holdings LLC grew its position in Check Point Software Technologies by 69.6% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company’s stock valued at $4,502,000 after buying an additional 9,580 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Trading Up 0.4 %

NASDAQ CHKP opened at $182.69 on Thursday. The stock has a market cap of $20.09 billion, a P/E ratio of 24.96, a PEG ratio of 3.21 and a beta of 0.63. The company’s fifty day simple moving average is $183.12 and its 200-day simple moving average is $185.32. Check Point Software Technologies has a 52 week low of $145.75 and a 52 week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting 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 company had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. During the same period in the prior year, the company posted $1.80 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts expect that Check Point Software Technologies will post 7.87 EPS for the current fiscal year.

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.