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

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has been assigned a consensus recommendation of “Hold” from the twenty-one research firms that are covering the company, MarketBeat reports. Twelve analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $169.18.

Several equities research analysts recently weighed in on CHKP shares. Royal Bank of Canada boosted their target price on Check Point Software Technologies from $159.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 7th. Wedbush reiterated an “outperform” rating and set a $185.00 target price on shares of Check Point Software Technologies in a research note on Friday, April 26th. William Blair raised shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 31st. Truist Financial boosted their price target on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, Citigroup increased their target price on Check Point Software Technologies from $140.00 to $155.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th.

Hedge Funds Weigh In On Check Point Software Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Brookstone Capital Management boosted its holdings in Check Point Software Technologies by 38.2% in the third quarter. Brookstone Capital Management now owns 6,072 shares of the technology company’s stock worth $823,000 after purchasing an additional 1,678 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Check Point Software Technologies by 5.0% in the third quarter. Commonwealth Equity Services LLC now owns 18,467 shares of the technology company’s stock valued at $2,461,000 after purchasing an additional 872 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Check Point Software Technologies by 38.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 13,421 shares of the technology company’s stock valued at $1,789,000 after purchasing an additional 3,745 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Check Point Software Technologies by 420.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 65,843 shares of the technology company’s stock valued at $8,776,000 after buying an additional 53,192 shares during the last quarter. Finally, Concord Wealth Partners acquired a new position in shares of Check Point Software Technologies during the third quarter worth approximately $25,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Price Performance

CHKP opened at $151.20 on Friday. The stock has a market capitalization of $18.26 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.42 and a beta of 0.64. The business has a fifty day moving average price of $160.69 and a 200 day moving average price of $153.30. Check Point Software Technologies has a 12 month low of $118.21 and a 12 month high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.72. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.42%. The firm had revenue of $598.80 million for the quarter, compared to analyst estimates of $595.28 million. On average, research analysts anticipate that Check Point Software Technologies will post 7.79 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.