Brokerages Set Check Point Software Technologies Ltd. (NASDAQ:CHKP) PT at $197.74

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has received a consensus recommendation of “Hold” from the twenty-three brokerages that are covering the company, Marketbeat reports. Fifteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $197.74.

Several research firms have weighed in on CHKP. BMO Capital Markets boosted their price target on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Wedbush upped their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Evercore ISI lifted their price objective on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Robert W. Baird cut their price objective on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, Mizuho boosted their target price on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $181.51 on Wednesday. The firm has a market capitalization of $19.96 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 3.10 and a beta of 0.63. The stock’s 50-day simple moving average is $189.82 and its 200-day simple moving average is $177.74. Check Point Software Technologies has a fifty-two week low of $143.28 and a fifty-two week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same quarter in the prior year, the business posted $1.80 EPS. Check Point Software Technologies’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts forecast that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Institutional Trading of Check Point Software Technologies

A number of institutional investors and hedge funds have recently modified their holdings of CHKP. Kingsview Wealth Management LLC purchased a new position in Check Point Software Technologies in the 1st quarter valued at about $211,000. Vanguard Group Inc. raised its holdings in shares of Check Point Software Technologies by 1.3% during the first quarter. Vanguard Group Inc. now owns 335,251 shares of the technology company’s stock valued at $54,985,000 after acquiring an additional 4,194 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Check Point Software Technologies in the first quarter valued at approximately $442,000. O Shaughnessy Asset Management LLC increased its position in shares of Check Point Software Technologies by 6.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 16,161 shares of the technology company’s stock worth $2,651,000 after purchasing an additional 910 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in Check Point Software Technologies by 2,173.6% in the 1st quarter. Bessemer Group Inc. now owns 124,024 shares of the technology company’s stock valued at $20,342,000 after purchasing an additional 118,569 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

About Check Point Software Technologies

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.