Check Point Software Technologies’ (CHKP) Hold Rating Reaffirmed at Needham & Company LLC

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports.

CHKP has been the subject of several other research reports. BMO Capital Markets lifted their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. UBS Group raised their price objective on shares of Check Point Software Technologies from $140.00 to $170.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Wells Fargo & Company raised their price objective on shares of Check Point Software Technologies from $132.00 to $162.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. William Blair upgraded shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. Finally, Susquehanna raised their price objective on shares of Check Point Software Technologies from $190.00 to $200.00 and gave the company a “positive” rating in a research report on Wednesday, February 7th. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Hold” and a consensus target price of $164.00.

Check Point Software Technologies Stock Down 1.1 %

CHKP opened at $151.20 on Friday. The company has a market capitalization of $18.26 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.48 and a beta of 0.61. The firm has a 50-day moving average price of $161.41 and a 200-day moving average price of $153.01. Check Point Software Technologies has a twelve month low of $117.18 and a twelve month high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, hitting the consensus estimate of $1.72. The firm had revenue of $598.80 million during the quarter, compared to the consensus estimate of $595.28 million. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.30%. On average, sell-side analysts expect that Check Point Software Technologies will post 7.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Several hedge funds have recently bought and sold shares of CHKP. Assenagon Asset Management S.A. lifted its holdings in shares of 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 acquiring an additional 19,111 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new stake in shares of Check Point Software Technologies in the 4th quarter worth approximately $1,505,000. Tritonpoint Wealth LLC bought a new stake in shares of Check Point Software Technologies in the 4th quarter worth approximately $2,586,000. SG Americas Securities LLC lifted its holdings in shares of Check Point Software Technologies by 81.9% in the 4th quarter. SG Americas Securities LLC now owns 27,303 shares of the technology company’s stock worth $4,172,000 after acquiring an additional 12,297 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Check Point Software Technologies in the 4th quarter worth approximately $47,160,000. 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.