Guggenheim Reiterates “Neutral” Rating for Check Point Software Technologies (NASDAQ:CHKP)

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “neutral” rating reaffirmed by research analysts at Guggenheim in a research note issued to investors on Friday,Benzinga reports.

Several other equities research analysts have also issued reports on CHKP. Stifel Nicolaus raised their target price on Check Point Software Technologies from $182.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $187.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Jefferies Financial Group boosted their target price on Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Bank of America downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and cut their price target for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Eighteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $203.05.

Check Point Software Technologies Stock Down 0.4 %

NASDAQ:CHKP traded down $0.78 during trading hours on Friday, reaching $195.60. The company had a trading volume of 104,649 shares, compared to its average volume of 675,184. The business’s 50-day simple moving average is $184.82 and its two-hundred day simple moving average is $186.21. The firm has a market cap of $21.51 billion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 3.05 and a beta of 0.63. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.25. The business had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. Check Point Software Technologies’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.80 EPS. As a group, equities analysts predict that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Institutional Trading of Check Point Software Technologies

Large investors have recently modified their holdings of the business. FSA Wealth Management LLC purchased a new stake in Check Point Software Technologies in the third quarter valued at approximately $27,000. GAMMA Investing LLC boosted its holdings in shares of Check Point Software Technologies by 53.1% in the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after purchasing an additional 60 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of Check Point Software Technologies during the 3rd quarter valued at about $33,000. Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies during the 3rd quarter valued at about $37,000. Finally, Exchange Traded Concepts LLC lifted its position in Check Point Software Technologies by 142.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock worth $44,000 after buying an additional 137 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

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 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.