Check Point Software Technologies Ltd. (NASDAQ:CHKP) Given Average Recommendation of “Hold” by Analysts

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has received a consensus rating of “Hold” from the thirty-three brokerages that are presently covering the stock, MarketBeat reports. Eighteen analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $110.89.

Several equities research analysts recently commented on CHKP shares. Morgan Stanley upgraded Check Point Software Technologies from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $87.00 to $107.00 in a research report on Tuesday, April 18th. BMO Capital Markets reiterated a “market perform” rating and issued a $116.00 price target (up previously from $110.00) on shares of Check Point Software Technologies in a report on Friday, April 21st. Cleveland Research upgraded Check Point Software Technologies from a “neutral” rating to a “buy” rating in a report on Monday, April 24th. BTIG Research reiterated a “buy” rating and issued a $118.00 price target on shares of Check Point Software Technologies in a report on Monday, April 24th. Finally, Robert W. Baird reiterated a “hold” rating on shares of Check Point Software Technologies in a report on Thursday, April 27th.

Shares of Check Point Software Technologies (NASDAQ CHKP) traded down 2.26% during mid-day trading on Monday, hitting $104.99. The stock had a trading volume of 895,597 shares. The firm has a market cap of $17.15 billion, a PE ratio of 23.29 and a beta of 0.72. Check Point Software Technologies has a 52 week low of $74.34 and a 52 week high of $116.63. The stock has a 50 day moving average price of $109.65 and a 200 day moving average price of $105.55.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Thursday, July 20th. The technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.22 by $0.04. Check Point Software Technologies had a return on equity of 22.02% and a net margin of 42.17%. The company had revenue of $458.60 million for the quarter, compared to analyst estimates of $454.62 million. During the same quarter in the prior year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts expect that Check Point Software Technologies will post $5.18 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fiduciary Trust Co. acquired a new position in shares of Check Point Software Technologies during the second quarter worth about $145,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Check Point Software Technologies by 1.4% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,425 shares of the technology company’s stock worth $151,000 after buying an additional 20 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Check Point Software Technologies by 32.0% in the first quarter. Quadrant Capital Group LLC now owns 1,531 shares of the technology company’s stock worth $153,000 after buying an additional 371 shares in the last quarter. Crestwood Advisors Group LLC acquired a new position in shares of Check Point Software Technologies during the first quarter worth about $154,000. Finally, IFP Advisors Inc increased its position in shares of Check Point Software Technologies by 2.4% in the first quarter. IFP Advisors Inc now owns 1,513 shares of the technology company’s stock worth $155,000 after buying an additional 36 shares in the last quarter. Institutional investors own 72.46% of the company’s stock.

About Check Point Software Technologies

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

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