Cantor Fitzgerald Begins Coverage on Check Point Software Technologies (NASDAQ:CHKP)

Cantor Fitzgerald began coverage on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research report report published on Thursday,Benzinga reports. The brokerage issued a neutral rating and a $200.00 price target on the technology company’s stock.

Several other research analysts also recently issued reports on the company. BMO Capital Markets lifted their price target on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Bank of America downgraded shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the company from $205.00 to $195.00 in a report on Wednesday, October 30th. Piper Sandler raised their price objective on shares of Check Point Software Technologies from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $187.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Eighteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and an average target price of $199.27.

Check Point Software Technologies Stock Up 0.9 %

Shares of CHKP opened at $183.19 on Thursday. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $210.70. The company has a 50-day simple moving average of $182.64 and a 200-day simple moving average of $184.60. The company has a market capitalization of $20.15 billion, a PE ratio of 25.03, a P/E/G ratio of 3.21 and a beta of 0.63.

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 analysts’ consensus estimates of $2.25. The company had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $1.80 earnings per share. On average, research analysts anticipate that Check Point Software Technologies will post 7.87 EPS for the current year.

Institutional Trading of Check Point Software Technologies

Institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Check Point Software Technologies by 73.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock valued at $211,105,000 after buying an additional 464,821 shares during the period. Marshall Wace LLP purchased a new position in shares of Check Point Software Technologies in the 2nd quarter valued at $47,244,000. World Investment Advisors LLC acquired a new position in shares of Check Point Software Technologies during the 3rd quarter valued at $51,922,000. FMR LLC boosted its position in Check Point Software Technologies by 28.7% during the 3rd quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after purchasing an additional 252,581 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Check Point Software Technologies by 10.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock valued at $354,153,000 after purchasing an additional 177,104 shares in 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.