Check Point Software Technologies’ (CHKP) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a report issued on Friday,Benzinga reports.

CHKP has been the topic of several other research reports. Mizuho raised their target price on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Jefferies Financial Group raised their target price on Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Evercore ISI raised their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Robert W. Baird decreased their target price on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and raised their target price for the company from $204.00 to $207.00 in a research report on Thursday, January 2nd. Nineteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $215.27.

Check Point Software Technologies Trading Down 0.4 %

Shares of CHKP stock opened at $218.02 on Friday. The company has a market capitalization of $23.98 billion, a P/E ratio of 29.78, a P/E/G ratio of 3.19 and a beta of 0.63. The business’s 50 day moving average is $187.94 and its two-hundred day moving average is $187.44. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $226.02.

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

Institutional Investors Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. increased its stake in Check Point Software Technologies by 10.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock worth $354,153,000 after acquiring an additional 177,104 shares during the last quarter. FMR LLC grew its stake in shares of Check Point Software Technologies by 28.7% in the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after buying an additional 252,581 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Check Point Software Technologies by 73.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock valued at $211,105,000 after buying an additional 464,821 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of Check Point Software Technologies by 26.9% in the fourth quarter. Boston Trust Walden Corp now owns 487,283 shares of the technology company’s stock valued at $90,976,000 after buying an additional 103,388 shares in the last quarter. Finally, Swedbank AB grew its stake in shares of Check Point Software Technologies by 1.1% in the fourth quarter. Swedbank AB now owns 428,042 shares of the technology company’s stock valued at $79,915,000 after buying an additional 4,760 shares in the last quarter. Institutional investors and hedge funds own 98.51% 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.