Cantor Fitzgerald Initiates Coverage on Check Point Software Technologies (NASDAQ:CHKP)

Stock analysts at Cantor Fitzgerald assumed coverage on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research note issued on Thursday,Benzinga reports. The firm set a “neutral” rating and a $200.00 price target on the technology company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 9.18% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus boosted their price target on shares of Check Point Software Technologies from $182.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price objective on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. BMO Capital Markets raised their target price on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Finally, Evercore ISI increased their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Eighteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $199.27.

Check Point Software Technologies Stock Up 0.9 %

Check Point Software Technologies stock traded up $1.71 during mid-day trading on Thursday, hitting $183.19. 963,613 shares of the company’s stock traded hands, compared to its average volume of 866,405. Check Point Software Technologies has a one year low of $145.75 and a one year high of $210.70. The company has a market cap of $20.15 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63. The firm has a 50 day moving average price of $182.44 and a 200 day moving average price of $184.61.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting the consensus estimate of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The firm had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. During the same quarter in the previous year, the company earned $1.80 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts expect that Check Point Software Technologies will post 7.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CHKP. FSA Wealth Management LLC bought a new stake in shares of Check Point Software Technologies in the third quarter valued at approximately $27,000. Kathleen S. Wright Associates Inc. acquired a new position in Check Point Software Technologies in the 3rd quarter worth about $33,000. GAMMA Investing LLC grew its holdings in Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after acquiring an additional 60 shares during the last quarter. Concord Wealth Partners bought a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at about $37,000. Finally, Arrow Financial Corp increased its position in Check Point Software Technologies by 62.5% during the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock valued at $50,000 after purchasing an additional 100 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

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.