Check Point Software Technologies Ltd. (NASDAQ:CHKP) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) have received an average recommendation of “Hold” from the twenty-three research firms that are covering the company, MarketBeat Ratings reports. Sixteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $202.95.

A number of research firms recently weighed in on CHKP. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. BMO Capital Markets upped 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. 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. 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 note on Wednesday, October 30th. Finally, Truist Financial lifted their target price on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd.

Institutional Investors Weigh In On Check Point Software Technologies

A number of institutional investors have recently added to or reduced their stakes in CHKP. Bank of Montreal Can grew its holdings in shares of Check Point Software Technologies by 32.2% during the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after purchasing an additional 20,866 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of Check Point Software Technologies in the third quarter worth $1,599,000. MML Investors Services LLC raised its stake in shares of Check Point Software Technologies by 3.7% in the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after acquiring an additional 3,655 shares during the period. Martin Investment Management LLC lifted its holdings in shares of Check Point Software Technologies by 2.0% during the 3rd quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock valued at $31,497,000 after acquiring an additional 3,225 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC boosted its position in Check Point Software Technologies by 69.6% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company’s stock worth $4,502,000 after purchasing an additional 9,580 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Stock Performance

NASDAQ:CHKP opened at $182.69 on Thursday. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $210.70. The stock has a fifty day moving average price of $183.12 and a two-hundred day moving average price of $185.32. The stock has a market capitalization of $20.09 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 3.21 and a beta of 0.63.

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

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.