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

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

A number of other equities analysts also recently issued reports on CHKP. JPMorgan Chase & Co. increased their price target on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Susquehanna increased their price target on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research report on Thursday, July 25th. Scotiabank raised their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 25th. Jefferies Financial Group raised their price objective on Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, Robert W. Baird dropped their price objective on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Wednesday. Fifteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $197.74.

Check Point Software Technologies Trading Down 1.6 %

CHKP opened at $170.50 on Wednesday. Check Point Software Technologies has a 12-month low of $134.72 and a 12-month high of $210.70. The business’s fifty day simple moving average is $194.47 and its 200-day simple moving average is $174.87. The company has a market capitalization of $18.75 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.71 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The business had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. During the same quarter in the prior year, the company earned $1.80 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts predict that Check Point Software Technologies will post 7.84 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CHKP. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Check Point Software Technologies in the second quarter worth about $30,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Check Point Software Technologies in the third quarter worth about $33,000. Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies in the third quarter worth about $37,000. FSC Wealth Advisors LLC purchased a new position in shares of Check Point Software Technologies in the third quarter worth about $60,000. Finally, Sound Income Strategies LLC raised its stake in shares of Check Point Software Technologies by 654.4% in 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 last quarter. 87.62% of the stock is currently 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 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.