Guggenheim Reaffirms Neutral Rating for Check Point Software Technologies (NASDAQ:CHKP)

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “neutral” rating restated by research analysts at Guggenheim in a report issued on Friday,Benzinga reports.

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $200.00 target price on shares of Check Point Software Technologies in a report on Monday. Scotiabank raised their price target on Check Point Software Technologies from $215.00 to $250.00 and gave the stock a “sector outperform” rating in a report on Friday. Evercore ISI upped their price objective on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Barclays lifted their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $205.00 to $195.00 in a research report on Wednesday, October 30th. Eighteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and an average price target of $209.86.

Check Point Software Technologies Trading Down 0.5 %

NASDAQ:CHKP traded down $1.03 during trading hours on Friday, hitting $217.96. The company’s stock had a trading volume of 147,915 shares, compared to its average volume of 778,210. The stock has a fifty day moving average of $187.94 and a 200-day moving average of $187.44. The stock has a market capitalization of $23.97 billion, a P/E ratio of 29.69, a price-to-earnings-growth ratio of 3.19 and a beta of 0.63. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $226.02.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (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 business had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. During the same quarter in the prior year, the business posted $1.80 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts forecast that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Copperleaf Capital LLC increased its holdings in Check Point Software Technologies by 4.1% during the 4th quarter. Copperleaf Capital LLC now owns 6,724 shares of the technology company’s stock worth $1,255,000 after purchasing an additional 264 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Check Point Software Technologies in the 4th quarter valued at about $35,000. Allworth Financial LP increased its holdings in Check Point Software Technologies by 22.0% in the fourth quarter. Allworth Financial LP now owns 611 shares of the technology company’s stock valued at $119,000 after buying an additional 110 shares during the last quarter. Hickory Asset Management Inc. acquired a new stake in Check Point Software Technologies during the fourth quarter valued at approximately $476,000. Finally, Marks Group Wealth Management Inc bought a new position in Check Point Software Technologies during the 4th quarter worth approximately $497,000. Hedge funds and other institutional investors own 98.51% 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.