Check Point Software Technologies Ltd. (CHKP) Receives $111.08 Average PT from Analysts

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has been assigned a consensus rating of “Hold” from the thirty-three analysts that are covering the company, Marketbeat.com reports. Seventeen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $111.56.

A number of equities analysts recently weighed in on CHKP shares. Barclays PLC reissued a “hold” rating and set a $110.00 target price on shares of Check Point Software Technologies in a research note on Sunday, July 23rd. Citigroup Inc. lifted their target price on shares of Check Point Software Technologies from $111.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Cowen and Company reissued a “buy” rating and set a $113.00 target price on shares of Check Point Software Technologies in a research note on Friday, September 8th. Credit Suisse Group started coverage on shares of Check Point Software Technologies in a research note on Tuesday, September 5th. They set a “neutral” rating and a $110.00 target price for the company. Finally, Northland Securities reissued a “hold” rating and set a $120.00 target price on shares of Check Point Software Technologies in a research note on Friday, June 30th.

Shares of Check Point Software Technologies (NASDAQ CHKP) traded up 1.16% during mid-day trading on Friday, hitting $119.13. 745,164 shares of the company’s stock traded hands. Check Point Software Technologies has a 52 week low of $75.65 and a 52 week high of $119.20. The company has a market cap of $19.46 billion, a PE ratio of 26.43 and a beta of 0.72. The firm has a 50-day moving average of $113.22 and a 200 day moving average of $109.41.

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

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Several hedge funds and other institutional investors have recently modified their holdings of CHKP. BB&T Investment Services Inc. purchased a new position in Check Point Software Technologies during the second quarter worth about $100,000. Acrospire Investment Management LLC boosted its holdings in Check Point Software Technologies by 150.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the technology company’s stock worth $109,000 after purchasing an additional 600 shares during the last quarter. Fiduciary Trust Co. purchased a new position in Check Point Software Technologies during the second quarter worth about $145,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Check Point Software Technologies by 1.4% during 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 purchasing an additional 20 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Check Point Software Technologies during the second quarter worth about $155,000. Hedge funds and other institutional investors own 67.83% 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.

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

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