Check Point Software Technologies’ (CHKP) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a report issued on Friday morning, Benzinga reports.

Other analysts also recently issued reports about the stock. Susquehanna lifted their price objective on shares of Check Point Software Technologies from $190.00 to $200.00 and gave the company a positive rating in a research report on Wednesday, February 7th. Scotiabank upped their price target on Check Point Software Technologies from $170.00 to $180.00 and gave the company a sector outperform rating in a report on Wednesday, February 7th. UBS Group lifted their price target on Check Point Software Technologies from $140.00 to $170.00 and gave the stock a neutral rating in a research note on Wednesday, January 10th. Wells Fargo & Company boosted their price target on shares of Check Point Software Technologies from $132.00 to $162.00 and gave the company an equal weight rating in a report on Monday, January 29th. Finally, BMO Capital Markets boosted their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a market perform rating in a research note on Wednesday, February 7th. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Check Point Software Technologies presently has a consensus rating of Hold and a consensus target price of $164.00.

Check Point Software Technologies Stock Performance

Shares of Check Point Software Technologies stock opened at $151.20 on Friday. The firm has a market cap of $18.26 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. Check Point Software Technologies has a 1 year low of $117.18 and a 1 year high of $168.82. The firm’s 50-day simple moving average is $161.41 and its 200-day simple moving average is $152.89.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, hitting the consensus estimate of $1.72. Check Point Software Technologies had a return on equity of 31.30% and a net margin of 34.33%. The company had revenue of $598.80 million during the quarter, compared to analyst estimates of $595.28 million. On average, equities analysts predict that Check Point Software Technologies will post 7.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CHKP. Acadian Asset Management LLC lifted its holdings in Check Point Software Technologies by 1.6% during the 3rd quarter. Acadian Asset Management LLC now owns 4,348,630 shares of the technology company’s stock worth $579,517,000 after purchasing an additional 69,441 shares during the last quarter. Boston Partners boosted its position in shares of Check Point Software Technologies by 5.0% in the fourth quarter. Boston Partners now owns 3,204,519 shares of the technology company’s stock valued at $489,700,000 after acquiring an additional 151,657 shares during the period. Nordea Investment Management AB increased its position in Check Point Software Technologies by 0.3% during the third quarter. Nordea Investment Management AB now owns 2,727,583 shares of the technology company’s stock worth $365,851,000 after acquiring an additional 7,493 shares during the period. Legal & General Group Plc raised its stake in Check Point Software Technologies by 3.4% in the 3rd quarter. Legal & General Group Plc now owns 1,626,814 shares of the technology company’s stock worth $216,822,000 after purchasing an additional 52,863 shares in the last quarter. Finally, Ariel Investments LLC grew its position in shares of Check Point Software Technologies by 121.2% during the 3rd quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock worth $144,391,000 after purchasing an additional 593,623 shares in the last quarter. 87.62% of the stock is owned by 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 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.