Check Point Software Technologies’ (CHKP) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a report issued on Wednesday morning, Benzinga reports. They currently have a $187.00 price target on the technology company’s stock.

CHKP has been the topic of several other research reports. Scotiabank lifted their price target on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 25th. Susquehanna lifted their target price 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. Bank of America downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the company from $205.00 to $195.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Mizuho upped their price objective on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Fifteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $197.74.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock opened at $170.50 on Wednesday. Check Point Software Technologies has a 1-year low of $134.72 and a 1-year high of $210.70. The business’s fifty day moving average price is $194.47 and its two-hundred day moving average price is $174.75. The company has a market capitalization of $18.75 billion, a P/E ratio of 23.29, a PEG ratio of 2.71 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting analysts’ consensus estimates of $2.25. The business had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $1.80 earnings per share. On average, research analysts expect that Check Point Software Technologies will post 7.84 earnings per share for the current fiscal year.

Institutional Trading of Check Point Software Technologies

Institutional investors have recently bought and sold shares of the company. Kathleen S. Wright Associates Inc. acquired a new position in Check Point Software Technologies in the 3rd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Check Point Software Technologies in the 2nd quarter valued at approximately $30,000. Concord Wealth Partners acquired a new position in Check Point Software Technologies in the third quarter worth approximately $37,000. FSC Wealth Advisors LLC bought a new position in Check Point Software Technologies during the third quarter valued at approximately $60,000. Finally, Sound Income Strategies LLC lifted its stake in Check Point Software Technologies by 654.4% in the third quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock valued at $83,000 after acquiring an additional 373 shares during the last quarter. 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.