Check Point Software Technologies Ltd. (NASDAQ:CHKP) Receives $169.18 Consensus PT from Analysts

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has been given a consensus rating of “Hold” by the twenty-one research firms that are presently covering the company, Marketbeat.com reports. Twelve equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $169.18.

Several brokerages have recently weighed in on CHKP. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research note on Friday, April 26th. BMO Capital Markets lifted their price objective on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Barclays increased their target price on Check Point Software Technologies from $170.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Scotiabank lifted their price target on shares of Check Point Software Technologies from $170.00 to $180.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada increased their price objective on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 7th.

Hedge Funds Weigh In On Check Point Software Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Ariel Investments LLC lifted its position in Check Point Software Technologies by 121.2% in the 3rd quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock valued at $144,391,000 after purchasing an additional 593,623 shares during the last quarter. Morningstar Investment Services LLC acquired a new stake in shares of Check Point Software Technologies in the third quarter valued at approximately $65,522,000. LSV Asset Management raised its holdings in shares of Check Point Software Technologies by 1,535.7% during the third quarter. LSV Asset Management now owns 413,835 shares of the technology company’s stock valued at $55,156,000 after buying an additional 388,535 shares during the last quarter. Boston Trust Walden Corp boosted its position in shares of Check Point Software Technologies by 248.8% during the fourth quarter. Boston Trust Walden Corp now owns 306,201 shares of the technology company’s stock worth $46,784,000 after buying an additional 218,403 shares during the period. Finally, Norges Bank bought a new position in Check Point Software Technologies in the 4th quarter worth approximately $29,801,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Check Point Software Technologies Stock Up 1.0 %

NASDAQ CHKP opened at $152.67 on Friday. Check Point Software Technologies has a fifty-two week low of $118.21 and a fifty-two week high of $168.82. The business has a 50 day moving average price of $160.38 and a two-hundred day moving average price of $153.76. The stock has a market cap of $18.44 billion, a PE ratio of 21.20, a P/E/G ratio of 2.46 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, meeting the consensus estimate of $1.72. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.42%. The business had revenue of $598.80 million during the quarter, compared to the consensus estimate of $595.28 million. Sell-side analysts anticipate that Check Point Software Technologies will post 7.79 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.