Check Point Software Technologies’ (CHKP) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research report report published on Wednesday morning, Benzinga reports.

Other analysts have also recently issued reports about the company. Wedbush raised their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Bank of America lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $205.00 to $195.00 in a research report on Wednesday. Jefferies Financial Group increased their price target on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Truist Financial boosted their price objective on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Scotiabank increased their target price on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $197.74.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $173.89 on Wednesday. The stock has a fifty day moving average price of $195.21 and a 200 day moving average price of $174.67. Check Point Software Technologies has a 1-year low of $129.13 and a 1-year high of $210.70. The company has a market cap of $19.12 billion, a PE ratio of 24.02, a P/E/G ratio of 3.17 and a beta of 0.62.

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 the consensus estimate of $2.25. The business had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.80 earnings per share. Analysts anticipate that Check Point Software Technologies will post 7.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Check Point Software Technologies in the 2nd quarter valued at about $30,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Check Point Software Technologies in the third quarter worth approximately $33,000. Concord Wealth Partners purchased a new stake in Check Point Software Technologies in the third quarter valued at approximately $37,000. FSC Wealth Advisors LLC acquired a new position in Check Point Software Technologies during the third quarter worth approximately $60,000. Finally, Sound Income Strategies LLC raised its stake in Check Point Software Technologies by 654.4% during the third quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock worth $83,000 after purchasing an additional 373 shares during the period. Hedge funds and other institutional investors 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.