Check Point Software Technologies (NASDAQ:CHKP) Stock Rating Reaffirmed by Needham & Company LLC

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Friday, Benzinga reports.

Several other equities research analysts also recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 7th. BMO Capital Markets increased their price objective on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Mizuho reissued a “neutral” rating and set a $160.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. Citigroup increased their price objective on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Finally, Truist Financial increased their price objective on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $164.00.

Check Point Software Technologies Stock Performance

CHKP opened at $151.20 on Friday. The firm’s fifty day moving average is $161.41 and its two-hundred day moving average is $153.01. The firm has a market cap of $18.26 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. Check Point Software Technologies has a twelve month low of $117.18 and a twelve month high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, hitting the consensus estimate of $1.72. The company had revenue of $598.80 million for the quarter, compared to analyst estimates of $595.28 million. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.30%. Equities analysts forecast that Check Point Software Technologies will post 7.85 EPS for the current fiscal year.

Institutional Trading of Check Point Software Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Concord Wealth Partners bought a new stake in shares of Check Point Software Technologies during the 3rd quarter worth about $25,000. CNB Bank bought a new stake in shares of Check Point Software Technologies during the 3rd quarter worth about $27,000. Bruce G. Allen Investments LLC bought a new stake in shares of Check Point Software Technologies during the 4th quarter worth about $30,000. Richardson Financial Services Inc. bought a new stake in shares of Check Point Software Technologies during the 4th quarter worth about $33,000. Finally, Salem Investment Counselors Inc. boosted its holdings in shares of 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 buying an additional 237 shares during the period. 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.