Check Point Software Technologies (NASDAQ:CHKP) Upgraded at BidaskClub

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, BidAskClub reports.

Other equities analysts have also recently issued reports about the stock. ValuEngine raised shares of Check Point Software Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Barclays raised their target price on shares of Check Point Software Technologies from $120.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Zacks Investment Research raised shares of Check Point Software Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Deutsche Bank raised their target price on shares of Check Point Software Technologies from $110.00 to $125.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Finally, Northland Securities reissued a “hold” rating and issued a $120.00 target price on shares of Check Point Software Technologies in a research note on Monday, April 22nd. Seventeen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $122.00.

Shares of NASDAQ CHKP traded up $0.32 during midday trading on Thursday, reaching $113.54. The company’s stock had a trading volume of 11,684 shares, compared to its average volume of 800,866. Check Point Software Technologies has a fifty-two week low of $95.67 and a fifty-two week high of $132.76. The company has a market capitalization of $17.25 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 2.32 and a beta of 0.80.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Thursday, April 18th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.01. Check Point Software Technologies had a net margin of 42.05% and a return on equity of 22.41%. The company had revenue of $471.83 million for the quarter, compared to the consensus estimate of $471.16 million. During the same period last year, the company earned $1.30 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts predict that Check Point Software Technologies will post 5.52 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Suntrust Banks Inc. boosted its position in shares of Check Point Software Technologies by 2.6% in the fourth quarter. Suntrust Banks Inc. now owns 21,103 shares of the technology company’s stock valued at $2,166,000 after acquiring an additional 526 shares during the period. Trinity Legacy Partners LLC bought a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $215,000. BNP Paribas Arbitrage SA boosted its position in shares of Check Point Software Technologies by 103.0% in the first quarter. BNP Paribas Arbitrage SA now owns 110,288 shares of the technology company’s stock valued at $13,950,000 after acquiring an additional 55,951 shares during the period. One Wealth Advisors LLC boosted its position in shares of Check Point Software Technologies by 5.3% in the fourth quarter. One Wealth Advisors LLC now owns 3,000 shares of the technology company’s stock valued at $308,000 after acquiring an additional 151 shares during the period. Finally, Neuburgh Advisers LLC bought a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $102,000. 71.29% of the stock is owned by hedge funds and other institutional investors.

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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

Further Reading: Overbought

Analyst Recommendations for Check Point Software Technologies (NASDAQ:CHKP)

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