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

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) have been assigned a consensus rating of “Hold” from the twenty-eight brokerages that are covering the stock, MarketBeat reports. Sixteen investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $232.44.

Several research analysts have recently issued reports on CHKP shares. Scotiabank decreased their price objective on shares of Check Point Software Technologies from $250.00 to $240.00 and set a “sector outperform” rating for the company in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Check Point Software Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th. Wedbush reiterated an “outperform” rating and issued a $240.00 price objective on shares of Check Point Software Technologies in a report on Thursday, April 24th. BMO Capital Markets reiterated an “outperform” rating and issued a $250.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Finally, Roth Capital started coverage on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $215.00 price objective for the company.

Check Point Software Technologies Trading Down 0.8%

NASDAQ CHKP opened at $219.39 on Thursday. Check Point Software Technologies has a 52 week low of $166.56 and a 52 week high of $234.36. The stock has a market cap of $24.13 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 3.16 and a beta of 0.64. The company has a 50-day moving average price of $221.12 and a two-hundred day moving average price of $213.21.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.75% and a return on equity of 32.88%. The firm had revenue of $637.80 million during the quarter, compared to analysts’ expectations of $635.80 million. During the same quarter in the prior year, the firm earned $2.04 EPS. Check Point Software Technologies’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts expect that Check Point Software Technologies will post 8.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sowell Financial Services LLC purchased a new stake in Check Point Software Technologies in the 1st quarter worth approximately $301,000. Assenagon Asset Management S.A. raised its holdings in shares of Check Point Software Technologies by 184.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company’s stock valued at $13,149,000 after purchasing an additional 37,407 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Check Point Software Technologies by 19.1% during the 1st quarter. QRG Capital Management Inc. now owns 2,442 shares of the technology company’s stock valued at $557,000 after purchasing an additional 391 shares in the last quarter. World Investment Advisors raised its holdings in shares of Check Point Software Technologies by 4.4% during the 4th quarter. World Investment Advisors now owns 30,041 shares of the technology company’s stock valued at $5,609,000 after purchasing an additional 1,278 shares in the last quarter. Finally, Daymark Wealth Partners LLC bought a new position in shares of Check Point Software Technologies during the 1st quarter valued at $452,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

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.