Check Point Software Technologies (CHKP) Upgraded to Positive at OTR Global

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Check Point Software Technologies (NASDAQ:CHKP) was upgraded by research analysts at OTR Global to a “positive” rating in a note issued to investors on Friday, The Fly reports.

Several other analysts also recently weighed in on CHKP. BidaskClub raised shares of Check Point Software Technologies from a “sell” rating to a “hold” rating in a report on Friday, April 13th. Deutsche Bank decreased their price objective on shares of Check Point Software Technologies from $100.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, April 25th. Royal Bank of Canada reissued a “hold” rating and set a $110.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, April 25th. JPMorgan Chase & Co. decreased their price objective on shares of Check Point Software Technologies from $113.00 to $103.00 and set a “neutral” rating on the stock in a report on Wednesday, April 25th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $108.00 price objective (down previously from $115.00) on shares of Check Point Software Technologies in a report on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and three have given a buy rating to the stock. Check Point Software Technologies currently has a consensus rating of “Hold” and a consensus price target of $109.05.

Shares of NASDAQ:CHKP traded up $2.89 during midday trading on Friday, hitting $102.86. The stock had a trading volume of 20,374 shares, compared to its average volume of 927,147. The company has a market cap of $16.24 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 2.01 and a beta of 0.64. Check Point Software Technologies has a 1 year low of $93.76 and a 1 year high of $119.20.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Wednesday, April 25th. The technology company reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The business had revenue of $452.30 million for the quarter, compared to the consensus estimate of $452.13 million. Check Point Software Technologies had a net margin of 43.15% and a return on equity of 22.83%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 earnings per share. sell-side analysts forecast that Check Point Software Technologies will post 5.12 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its position in shares of Check Point Software Technologies by 7.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,411,680 shares of the technology company’s stock valued at $1,232,978,000 after buying an additional 810,803 shares during the last quarter. BlackRock Inc. raised its position in shares of Check Point Software Technologies by 3.3% in the first quarter. BlackRock Inc. now owns 5,173,811 shares of the technology company’s stock valued at $513,965,000 after buying an additional 165,551 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt raised its position in shares of Check Point Software Technologies by 2.9% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 5,045,000 shares of the technology company’s stock valued at $492,644,000 after buying an additional 140,000 shares during the last quarter. FIL Ltd raised its position in shares of Check Point Software Technologies by 50.4% in the first quarter. FIL Ltd now owns 2,590,559 shares of the technology company’s stock valued at $257,346,000 after buying an additional 868,345 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Check Point Software Technologies by 29.0% in the first quarter. Wells Fargo & Company MN now owns 2,121,257 shares of the technology company’s stock valued at $210,726,000 after buying an additional 477,013 shares during the last quarter. 65.68% of the stock is owned by institutional investors and hedge funds.

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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

The Fly

Analyst Recommendations for Check Point Software Technologies (NASDAQ:CHKP)

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