Check Point Software Technologies (NASDAQ:CHKP) Receives Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research note released on Wednesday morning, Benzinga reports. The firm currently has a $187.00 price objective on the technology company’s stock.

Several other research analysts have also recently issued reports on CHKP. Susquehanna raised their target price on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a report on Thursday, July 25th. Scotiabank raised their target price on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 25th. Wedbush raised their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Jefferies Financial Group raised their price target on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Barclays dropped their price target on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Fifteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $197.74.

Check Point Software Technologies Trading Down 1.6 %

CHKP opened at $170.50 on Wednesday. Check Point Software Technologies has a 12 month low of $134.72 and a 12 month high of $210.70. The business’s 50-day moving average price is $194.47 and its 200-day moving average price is $174.87. The company has a market cap of $18.75 billion, a P/E ratio of 23.29, a P/E/G ratio of 2.71 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The business had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. During the same period in the previous year, the firm earned $1.80 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts forecast that Check Point Software Technologies will post 7.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Check Point Software Technologies during the second quarter valued at $30,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Check Point Software Technologies during the third quarter valued at $33,000. Concord Wealth Partners bought a new position in shares of Check Point Software Technologies during the third quarter valued at $37,000. FSC Wealth Advisors LLC bought a new position in shares of Check Point Software Technologies during the third quarter valued at $60,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Check Point Software Technologies by 654.4% during the third quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock valued at $83,000 after acquiring an additional 373 shares in 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.