Check Point Software Technologies Ltd. (NASDAQ:CHKP) Receives $184.47 Consensus Price Target from Analysts

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has been given a consensus recommendation of “Hold” by the twenty-five ratings firms that are presently covering the stock, MarketBeat reports. Sixteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $184.47.

CHKP has been the subject of a number of research analyst reports. 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 report on Thursday, July 25th. Wedbush lifted their price target on Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on Check Point Software Technologies from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Jefferies Financial Group boosted their price objective on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a report on Thursday, July 25th.

Check Point Software Technologies Stock Performance

NASDAQ:CHKP opened at $190.90 on Tuesday. The stock’s 50-day simple moving average is $187.96 and its 200 day simple moving average is $169.67. The company has a market cap of $21.55 billion, a P/E ratio of 26.51, a P/E/G ratio of 3.05 and a beta of 0.62. Check Point Software Technologies has a 52-week low of $126.57 and a 52-week high of $196.56.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The business had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. During the same quarter last year, the company posted $1.74 earnings per share. Check Point Software Technologies’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities analysts predict that Check Point Software Technologies will post 7.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Argonautica Private Wealth Management Inc. raised its position in Check Point Software Technologies by 1.3% during the second quarter. Argonautica Private Wealth Management Inc. now owns 5,928 shares of the technology company’s stock valued at $978,000 after purchasing an additional 78 shares in the last quarter. Guardian Wealth Management Inc. increased its holdings in shares of Check Point Software Technologies by 0.5% during the fourth quarter. Guardian Wealth Management Inc. now owns 18,633 shares of the technology company’s stock worth $2,847,000 after buying an additional 85 shares in the last quarter. Heron Bay Capital Management increased its holdings in shares of Check Point Software Technologies by 0.3% during the second quarter. Heron Bay Capital Management now owns 32,873 shares of the technology company’s stock worth $5,424,000 after buying an additional 92 shares in the last quarter. Mather Group LLC. increased its holdings in shares of Check Point Software Technologies by 5.1% during the second quarter. Mather Group LLC. now owns 2,056 shares of the technology company’s stock worth $337,000 after buying an additional 99 shares in the last quarter. Finally, Butensky & Cohen Financial Security Inc. increased its holdings in shares of Check Point Software Technologies by 0.4% during the first quarter. Butensky & Cohen Financial Security Inc. now owns 26,472 shares of the technology company’s stock worth $4,342,000 after buying an additional 102 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.