Check Point Software Technologies Ltd. (NASDAQ:CHKP) Receives $119.20 Consensus Target Price from Brokerages

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) have been given an average recommendation of “Hold” by the twenty-two analysts that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $118.41.

A number of research firms have recently issued reports on CHKP. Barclays cut their target price on shares of Check Point Software Technologies from $127.00 to $116.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Robert W. Baird restated a “hold” rating and set a $120.00 target price on shares of Check Point Software Technologies in a research note on Monday, October 28th. Piper Jaffray Companies began coverage on shares of Check Point Software Technologies in a research note on Friday, November 8th. They set a “neutral” rating and a $117.00 target price for the company. Goldman Sachs Group began coverage on shares of Check Point Software Technologies in a research note on Tuesday, November 12th. They set a “neutral” rating and a $123.00 target price for the company. Finally, BidaskClub upgraded shares of Check Point Software Technologies from a “strong sell” rating to a “sell” rating in a research note on Wednesday.

A number of institutional investors have recently modified their holdings of CHKP. Price T Rowe Associates Inc. MD increased its holdings in Check Point Software Technologies by 1.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,368 shares of the technology company’s stock valued at $736,000 after buying an additional 100 shares during the period. Private Advisor Group LLC increased its holdings in Check Point Software Technologies by 1.3% in the 2nd quarter. Private Advisor Group LLC now owns 8,210 shares of the technology company’s stock valued at $949,000 after buying an additional 102 shares during the period. CAPROCK Group Inc. increased its holdings in Check Point Software Technologies by 5.1% in the 3rd quarter. CAPROCK Group Inc. now owns 2,132 shares of the technology company’s stock valued at $233,000 after buying an additional 104 shares during the period. Neuburgh Advisers LLC increased its holdings in Check Point Software Technologies by 12.7% in the 2nd quarter. Neuburgh Advisers LLC now owns 1,136 shares of the technology company’s stock valued at $131,000 after buying an additional 128 shares during the period. Finally, Private Capital Group LLC increased its holdings in Check Point Software Technologies by 81.1% in the 2nd quarter. Private Capital Group LLC now owns 288 shares of the technology company’s stock valued at $28,000 after buying an additional 129 shares during the period. Institutional investors and hedge funds own 68.20% of the company’s stock.

Shares of NASDAQ CHKP traded down $1.03 during mid-day trading on Friday, reaching $113.75. 1,353,816 shares of the company were exchanged, compared to its average volume of 764,017. The company’s 50-day simple moving average is $112.92 and its 200-day simple moving average is $112.14. The stock has a market capitalization of $17.47 billion, a P/E ratio of 21.95, a P/E/G ratio of 2.33 and a beta of 0.76. Check Point Software Technologies has a twelve month low of $105.13 and a twelve month high of $132.76.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Monday, October 28th. The technology company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.04. The company had revenue of $490.91 million during the quarter, compared to analysts’ expectations of $490.94 million. Check Point Software Technologies had a net margin of 40.05% and a return on equity of 21.86%. Check Point Software Technologies’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.38 EPS. As a group, analysts expect that Check Point Software Technologies will post 5.51 earnings per share for the current fiscal 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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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

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