BidaskClub upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a sell rating to a hold rating in a research report report published on Friday morning.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Check Point Software Technologies from a sell rating to a hold rating in a report on Monday, February 5th. Wells Fargo cut shares of Check Point Software Technologies from an outperform rating to a market perform rating and boosted their price objective for the company from $103.41 to $117.00 in a report on Thursday, February 1st. JPMorgan Chase decreased their price objective on shares of Check Point Software Technologies to $113.00 and set a neutral rating for the company in a report on Wednesday, January 31st. Finally, Cleveland Research cut shares of Check Point Software Technologies from a buy rating to a neutral rating in a report on Thursday, January 25th. Twenty-two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Check Point Software Technologies currently has an average rating of Hold and an average target price of $113.67.
Shares of NASDAQ CHKP opened at $102.55 on Friday. Check Point Software Technologies has a 52-week low of $95.03 and a 52-week high of $119.20. The company has a market capitalization of $16,761.07, a PE ratio of 20.93, a PEG ratio of 2.01 and a beta of 0.65.
Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.20. Check Point Software Technologies had a net margin of 43.29% and a return on equity of 22.74%. The firm had revenue of $506.00 million during the quarter, compared to analysts’ expectations of $508.66 million. During the same period in the previous year, the company earned $1.46 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. research analysts forecast that Check Point Software Technologies will post 5.26 EPS for the current year.
A number of hedge funds have recently made changes to their positions in CHKP. California State Teachers Retirement System increased its holdings in Check Point Software Technologies by 0.6% during the third quarter. California State Teachers Retirement System now owns 87,853 shares of the technology company’s stock valued at $10,017,000 after buying an additional 558 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Check Point Software Technologies in the third quarter worth $1,105,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Check Point Software Technologies by 87.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,000 shares of the technology company’s stock worth $3,421,000 after purchasing an additional 14,000 shares in the last quarter. Vident Investment Advisory LLC purchased a new stake in shares of Check Point Software Technologies in the third quarter worth $717,000. Finally, Zions Bancorporation increased its stake in shares of Check Point Software Technologies by 3,700.0% in the third quarter. Zions Bancorporation now owns 874 shares of the technology company’s stock worth $100,000 after purchasing an additional 851 shares in the last quarter. 67.59% of the stock is owned by institutional investors and hedge funds.
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Check Point Software Technologies Company Profile
Check Point Software Technologies Ltd. provides hardware and software products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides security gateways to protect the networks and prevent the threats of enterprises, data centers, and small and large branch offices; security gateway appliances, including platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and security management software, which offers security management through a single console that streamlines security operations and provides visibility into policy administration and threat analysis.
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