Check Point Software Technologies Ltd. (NASDAQ:CHKP) Receives $197.74 Consensus Target Price from Brokerages

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) have received a consensus rating of “Hold” from the twenty-three analysts that are currently covering the firm, Marketbeat reports. Fifteen research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $197.74.

A number of research firms recently issued reports on CHKP. Bank of America downgraded shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $205.00 to $195.00 in a research report on Wednesday, October 30th. Needham & Company LLC restated 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 issued a $187.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Robert W. Baird decreased their target price on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Finally, BMO Capital Markets raised their target price on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, October 25th.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $181.75 on Wednesday. The firm has a market capitalization of $19.99 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 3.10 and a beta of 0.63. The company has a 50 day moving average price of $190.21 and a 200 day moving average price of $177.31. Check Point Software Technologies has a one year low of $143.28 and a one year high of $210.70.

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

Hedge Funds Weigh In On Check Point Software Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its position in shares of Check Point Software Technologies by 2.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock worth $912,070,000 after buying an additional 114,938 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after acquiring an additional 391,983 shares during the last quarter. Boston Partners lifted its holdings in Check Point Software Technologies by 13.1% in the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after acquiring an additional 419,404 shares during the last quarter. Ninety One UK Ltd boosted its stake in Check Point Software Technologies by 1.1% in the second quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock valued at $595,450,000 after acquiring an additional 39,092 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Check Point Software Technologies by 10.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock valued at $354,153,000 after purchasing an additional 177,104 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.