Check Point Software Technologies (NASDAQ:CHKP) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research report released on Thursday, Benzinga reports.

Several other analysts have also weighed in on CHKP. Barclays upped their target price on Check Point Software Technologies from $170.00 to $175.00 and gave the company an equal weight rating in a report on Friday, April 26th. Robert W. Baird upped their target price on Check Point Software Technologies from $168.00 to $200.00 and gave the company a neutral rating in a report on Thursday. Wedbush reissued an outperform rating and issued a $185.00 target price on shares of Check Point Software Technologies in a report on Friday, April 26th. KeyCorp upgraded Check Point Software Technologies to a hold rating in a research report on Tuesday, May 14th. Finally, Mizuho restated a neutral rating and issued a $160.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. Fifteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $183.68.

Check Point Software Technologies Price Performance

Shares of CHKP stock opened at $182.74 on Thursday. The business’s fifty day moving average price is $161.86 and its 200 day moving average price is $160.27. Check Point Software Technologies has a 1-year low of $125.68 and a 1-year high of $184.67. The firm has a market capitalization of $20.63 billion, a PE ratio of 25.38, a P/E/G ratio of 2.86 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. The firm had revenue of $627.40 million for the quarter, compared to analyst estimates of $623.19 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. Check Point Software Technologies’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.74 earnings per share. Equities research analysts expect that Check Point Software Technologies will post 7.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

A number of large investors have recently modified their holdings of CHKP. Raymond James & Associates raised its holdings in shares of Check Point Software Technologies by 8.6% in the 4th quarter. Raymond James & Associates now owns 128,438 shares of the technology company’s stock worth $19,624,000 after purchasing an additional 10,223 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Check Point Software Technologies by 18.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 78,120 shares of the technology company’s stock worth $11,936,000 after purchasing an additional 12,277 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Check Point Software Technologies by 6.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,383 shares of the technology company’s stock worth $211,000 after purchasing an additional 89 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Check Point Software Technologies by 52.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 55,681 shares of the technology company’s stock worth $8,508,000 after purchasing an additional 19,111 shares during the period. Finally, Ritholtz Wealth Management raised its holdings in shares of Check Point Software Technologies by 17.6% in the 4th quarter. Ritholtz Wealth Management now owns 5,260 shares of the technology company’s stock worth $804,000 after purchasing an additional 789 shares during the period. 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.