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

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

CHKP has been the topic of several other reports. Mizuho restated a “neutral” rating and issued a $160.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. Scotiabank raised their price target on Check Point Software Technologies from $170.00 to $180.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, February 7th. Citigroup lifted their target price on Check Point Software Technologies from $140.00 to $155.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. TD Cowen lifted their target price on Check Point Software Technologies from $180.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Finally, Royal Bank of Canada lifted their target price on Check Point Software Technologies from $159.00 to $165.00 and gave the stock a “sector perform” rating in a 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, Check Point Software Technologies currently has an average rating of “Hold” and an average price target of $160.16.

Check Point Software Technologies Price Performance

CHKP stock opened at $152.95 on Friday. The business has a fifty day moving average price of $161.64 and a 200 day moving average price of $152.78. Check Point Software Technologies has a fifty-two week low of $117.18 and a fifty-two week high of $168.82. The stock has a market capitalization of $18.47 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 2.61 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.72. The firm had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. Check Point Software Technologies had a return on equity of 30.81% and a net margin of 34.80%. On average, equities analysts expect that Check Point Software Technologies will post 7.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. AE Wealth Management LLC grew its stake in Check Point Software Technologies by 17.8% in the 3rd quarter. AE Wealth Management LLC now owns 6,767 shares of the technology company’s stock valued at $902,000 after buying an additional 1,022 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in Check Point Software Technologies by 3.6% in the 3rd quarter. Koshinski Asset Management Inc. now owns 2,559 shares of the technology company’s stock valued at $341,000 after purchasing an additional 89 shares during the period. Asset Management One Co. Ltd. boosted its holdings in Check Point Software Technologies by 2.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 88,905 shares of the technology company’s stock valued at $11,849,000 after purchasing an additional 2,198 shares during the period. Brookstone Capital Management boosted its holdings in Check Point Software Technologies by 38.2% in the 3rd quarter. Brookstone Capital Management now owns 6,072 shares of the technology company’s stock valued at $823,000 after purchasing an additional 1,678 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in Check Point Software Technologies by 5.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 18,467 shares of the technology company’s stock valued at $2,461,000 after purchasing an additional 872 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.