Check Point Software Technologies’ (CHKP) “Buy” Rating Reaffirmed at Cowen and Company

Cowen and Company restated their buy rating on shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) in a report issued on Friday. They currently have a $113.00 price target on the technology company’s stock.

Several other equities analysts also recently weighed in on the company. Credit Suisse Group began coverage on Check Point Software Technologies in a research report on Tuesday, September 5th. They issued a neutral rating and a $110.00 target price on the stock. Piper Jaffray Companies set a $108.00 target price on Check Point Software Technologies and gave the company a hold rating in a research report on Friday, August 25th. BidaskClub upgraded Check Point Software Technologies from a hold rating to a buy rating in a research report on Thursday, August 24th. Oppenheimer Holdings, Inc. restated an outperform rating and issued a $128.00 target price on shares of Check Point Software Technologies in a research report on Tuesday, August 15th. Finally, Evercore ISI set a $100.00 target price on Check Point Software Technologies and gave the company a hold rating in a research report on Friday, August 11th. Eighteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $110.64.

Check Point Software Technologies (CHKP) opened at 112.70 on Friday. The company has a 50-day moving average price of $108.03 and a 200-day moving average price of $107.08. The stock has a market capitalization of $18.41 billion, a PE ratio of 25.01 and a beta of 0.73. Check Point Software Technologies has a 12-month low of $74.34 and a 12-month high of $116.63.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Thursday, July 20th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.04. The company had revenue of $458.60 million for the quarter, compared to the consensus estimate of $454.62 million. Check Point Software Technologies had a return on equity of 22.02% and a net margin of 42.17%. Check Point Software Technologies’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 earnings per share. Analysts expect that Check Point Software Technologies will post $5.18 earnings per share for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in CHKP. BlackRock Inc. boosted its holdings in Check Point Software Technologies by 1,778.0% in the first quarter. BlackRock Inc. now owns 5,160,771 shares of the technology company’s stock valued at $529,804,000 after purchasing an additional 4,885,975 shares during the period. Veritas Asset Management LLP purchased a new position in Check Point Software Technologies in the second quarter valued at $482,664,000. BT Investment Management Ltd purchased a new position in Check Point Software Technologies in the second quarter valued at $165,866,000. Koch Industries Inc. boosted its holdings in Check Point Software Technologies by 41,297.0% in the second quarter. Koch Industries Inc. now owns 1,148,354 shares of the technology company’s stock valued at $1,138,000 after purchasing an additional 1,145,580 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Check Point Software Technologies by 336.7% in the second quarter. Janus Henderson Group PLC now owns 1,152,428 shares of the technology company’s stock valued at $125,709,000 after purchasing an additional 888,530 shares during the period. Hedge funds and other institutional investors own 67.82% of the company’s stock.

About Check Point Software Technologies

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

Analyst Recommendations for Check Point Software Technologies (NASDAQ:CHKP)

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