Check Point Software Technologies’ (CHKP) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research note published on Friday, Benzinga reports.

CHKP has been the topic of several other reports. Truist Financial raised their price target on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the stock a buy rating in a research note on Wednesday, February 7th. Susquehanna boosted their price target on Check Point Software Technologies from $190.00 to $200.00 and gave the company a positive rating in a report on Wednesday, February 7th. TD Cowen raised their price objective on Check Point Software Technologies from $180.00 to $205.00 and gave the stock an outperform rating in a report on Monday, March 18th. BMO Capital Markets upped their target price on Check Point Software Technologies from $175.00 to $185.00 and gave the company a market perform rating in a research note on Wednesday, February 7th. Finally, Citigroup raised their price target on Check Point Software Technologies from $140.00 to $155.00 and gave the stock a neutral rating in a research note on Wednesday, January 10th. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Check Point Software Technologies has a consensus rating of Hold and a consensus price target of $164.00.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $150.46 on Friday. The firm’s 50-day moving average is $161.16 and its two-hundred day moving average is $153.25. Check Point Software Technologies has a 12-month low of $117.18 and a 12-month high of $168.82. The company has a market capitalization of $18.17 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.45 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, meeting analysts’ consensus estimates of $1.72. The firm had revenue of $598.80 million for the quarter, compared to analysts’ expectations of $595.28 million. Check Point Software Technologies had a return on equity of 31.42% and a net margin of 34.33%. On average, analysts forecast that Check Point Software Technologies will post 7.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Concord Wealth Partners purchased a new stake in Check Point Software Technologies during the 3rd quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Check Point Software Technologies in the fourth quarter worth about $30,000. CNB Bank purchased a new position in Check Point Software Technologies in the third quarter valued at about $27,000. Richardson Financial Services Inc. acquired a new stake in Check Point Software Technologies during the 4th quarter valued at approximately $33,000. Finally, Salem Investment Counselors Inc. increased its holdings in Check Point Software Technologies by 483.7% during the 4th quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock worth $44,000 after purchasing an additional 237 shares during the last quarter. 87.62% 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 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.