Zacks Reaffirms “Neutral” Rating for Check Point Software Technologies (CHKP)
Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Thursday. They currently have a $75.00 price target on the stock. Zacks‘s price objective points to a potential upside of 5.62% from the company’s current price.
Zacks’ analyst wrote, “Check Point delivered better-than-expected second-quarter results. While the third-quarter revenue guidance was unexciting, we expect Check Point’s strong position in the network security market and the rapid adoption of its new products to support revenue growth. Moreover, Check Point’s settlement with the Israeli Tax Authorities is a long-term positive. The company’s continuous share buybacks also bode well for investors. However, stiff competition, an uncertain economic environment, competitive pressures and currency fluctuations remain the headwinds. Thus, we reiterate our Neutral recommendation on Check Point shares.”
A number of other firms have also recently commented on CHKP. Analysts at Stifel Nicolaus initiated coverage on shares of Check Point Software Technologies in a research note on Thursday, August 28th. They set a “hold” rating on the stock. Separately, analysts at Topeka Capital Markets raised their price target on shares of Check Point Software Technologies from $72.50 to $75.00 in a research note on Wednesday, July 23rd. They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs initiated coverage on shares of Check Point Software Technologies in a research note on Wednesday, July 16th. They set a “neutral” rating on the stock. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $72.79.
Check Point Software Technologies (NASDAQ:CHKP) traded up 0.71% during mid-day trading on Thursday, hitting $71.51. 299,447 shares of the company’s stock traded hands. Check Point Software Technologies has a 1-year low of $55.08 and a 1-year high of $72.15. The stock has a 50-day moving average of $67.39 and a 200-day moving average of $66.53. The company has a market cap of $13.582 billion and a price-to-earnings ratio of 20.92.
Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, July 23rd. The company reported $0.89 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.87 by $0.02. The company had revenue of $363.00 million for the quarter, compared to the consensus estimate of $359.37 million. During the same quarter last year, the company posted $0.83 earnings per share. Check Point Software Technologies’s revenue was up 6.6% compared to the same quarter last year. Analysts expect that Check Point Software Technologies will post $3.66 EPS for the current fiscal year.
Check Point Software Technologies Ltd. (NASDAQ:CHKP) develops technologies to communications and transactions over the Internet by enterprises and consumers.
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