StockNews.com Upgrades Check Point Software Technologies (NASDAQ:CHKP) to “Buy”

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Other research analysts have also issued reports about the stock. Wells Fargo & Company dropped their price objective on shares of Check Point Software Technologies from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Baird R W raised Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Citigroup increased their price objective on Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Mizuho boosted their target price on Check Point Software Technologies from $220.00 to $230.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Finally, Guggenheim restated a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Sixteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $232.04.

Check Point Software Technologies Trading Down 1.6%

NASDAQ:CHKP opened at $214.49 on Tuesday. The firm has a market cap of $23.59 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66. The stock has a fifty day moving average price of $219.67 and a 200 day moving average price of $202.99. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.02. The firm had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.04 earnings per share. Equities analysts forecast that Check Point Software Technologies will post 8.61 EPS for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

A number of hedge funds have recently made changes to their positions in the business. Nemes Rush Group LLC bought a new stake in Check Point Software Technologies in the fourth quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new stake in Check Point Software Technologies in the 4th quarter valued at $29,000. GAMMA Investing LLC grew its position in Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after acquiring an additional 60 shares during the period. Golden State Wealth Management LLC acquired a new position in Check Point Software Technologies during the fourth quarter worth $35,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Check Point Software Technologies during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Check Point Software Technologies Company Profile

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.