Check Point Software Technologies Ltd. (NASDAQ:CHKP) Receives $184.47 Consensus Price Target from Analysts

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) have earned a consensus rating of “Hold” from the twenty-five ratings firms that are currently covering the company, Marketbeat.com reports. Sixteen equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $184.47.

Several equities research analysts have recently issued reports on CHKP shares. Evercore ISI raised shares of Check Point Software Technologies to a “hold” rating in a research report on Monday, September 16th. BMO Capital Markets lifted their price target on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Scotiabank boosted their price target on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a report on Thursday, July 25th. Susquehanna increased their price objective on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their target price on Check Point Software Technologies from $165.00 to $187.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th.

Hedge Funds Weigh In On Check Point Software Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Check Point Software Technologies in the second quarter valued at approximately $30,000. Concord Wealth Partners bought a new position in Check Point Software Technologies during the 1st quarter worth $31,000. Richardson Financial Services Inc. bought a new stake in shares of Check Point Software Technologies in the 4th quarter valued at about $33,000. Transcendent Capital Group LLC acquired a new stake in shares of Check Point Software Technologies in the first quarter valued at about $107,000. Finally, Alaska Permanent Fund Corp acquired a new stake in shares of Check Point Software Technologies in the first quarter valued at about $117,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Trading Down 1.3 %

Shares of Check Point Software Technologies stock opened at $191.50 on Tuesday. Check Point Software Technologies has a 12 month low of $126.57 and a 12 month high of $196.56. The company has a market capitalization of $21.62 billion, a PE ratio of 26.60, a PEG ratio of 3.05 and a beta of 0.62. The stock’s fifty day simple moving average is $188.19 and its 200 day simple moving average is $169.93.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The business had revenue of $627.40 million for the quarter, compared to analysts’ expectations of $623.19 million. During the same quarter in the previous year, the business posted $1.74 EPS. Check Point Software Technologies’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts predict that Check Point Software Technologies will post 7.83 EPS for the current fiscal year.

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.