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

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) have been assigned an average rating of “Hold” from the twenty-three ratings firms that are covering the stock, MarketBeat.com reports. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $159.70.

Several equities research analysts have commented on the stock. BMO Capital Markets raised their price target on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Scotiabank raised their price target on shares of Check Point Software Technologies from $170.00 to $180.00 and gave the company a “sector outperform” rating in a research note on Wednesday, February 7th. Raymond James upgraded shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research note on Monday, December 18th. Wedbush restated an “outperform” rating and issued a $185.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, April 10th. Finally, Truist Financial raised their price objective on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $157.63 on Tuesday. Check Point Software Technologies has a one year low of $117.18 and a one year high of $168.82. The company’s 50-day simple moving average is $162.56 and its 200-day simple moving average is $151.69. The stock has a market capitalization of $19.04 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.62 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.57 EPS for the quarter, topping the consensus estimate of $2.47 by $0.10. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. The business had revenue of $663.50 million for the quarter, compared to analysts’ expectations of $662.09 million. During the same quarter last year, the company posted $2.23 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, research analysts forecast that Check Point Software Technologies will post 7.85 EPS for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Concord Wealth Partners acquired a new position in Check Point Software Technologies in the 3rd quarter worth approximately $25,000. CNB Bank acquired a new position in Check Point Software Technologies in the 3rd quarter worth approximately $27,000. Resurgent Financial Advisors LLC acquired a new position in Check Point Software Technologies in the 4th quarter worth approximately $28,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Check Point Software Technologies during the 4th quarter valued at $30,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Check Point Software Technologies during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 87.62% 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.