Check Point Software Technologies’ (CHKP) “Hold” Rating Reaffirmed at Needham & Company LLC

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a report issued on Friday,Benzinga reports.

A number of other equities research analysts also recently commented on the company. Citigroup lifted their target price on Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. boosted their price objective on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Truist Financial upped their target price on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on shares of Check Point Software Technologies from $182.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Finally, BMO Capital Markets upped their price objective on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Seventeen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $206.60.

Check Point Software Technologies Trading Up 7.4 %

Check Point Software Technologies stock opened at $218.99 on Friday. The company has a 50-day moving average price of $187.20 and a 200 day moving average price of $187.22. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $226.03. The stock has a market cap of $24.08 billion, a P/E ratio of 29.92, a PEG ratio of 3.19 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last announced 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 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 the consensus estimate of $634.96 million. During the same quarter last year, the firm earned $1.80 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, analysts forecast that Check Point Software Technologies will post 7.87 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CHKP. Bank of Montreal Can lifted its stake in Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after purchasing an additional 20,866 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Check Point Software Technologies in the 3rd quarter valued at $1,599,000. MML Investors Services LLC boosted its holdings in shares of Check Point Software Technologies by 3.7% in the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after buying an additional 3,655 shares in the last quarter. Martin Investment Management LLC grew its position in shares of Check Point Software Technologies by 2.0% in the 3rd quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock valued at $31,497,000 after buying an additional 3,225 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC lifted its position in Check Point Software Technologies by 69.6% in the third quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company’s stock valued at $4,502,000 after acquiring an additional 9,580 shares during the last quarter. 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.