Guggenheim Reiterates Neutral Rating for Check Point Software Technologies (NASDAQ:CHKP)

Guggenheim reaffirmed their neutral rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research report released on Friday morning,Benzinga reports.

A number of other brokerages have also issued reports on CHKP. BMO Capital Markets raised their target price on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their target price on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Evercore ISI raised their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Barclays reduced their target price 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. Finally, Scotiabank lifted their price objective on Check Point Software Technologies from $200.00 to $215.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Eighteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $203.05.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock opened at $194.48 on Friday. The stock has a market capitalization of $21.39 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 3.05 and a beta of 0.63. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $210.70. The business has a fifty day moving average price of $185.20 and a 200-day moving average price of $186.28.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.25. The firm had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.80 EPS. On average, equities research analysts anticipate that Check Point Software Technologies will post 7.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Several institutional investors have recently bought and sold shares of the company. Bleakley Financial Group LLC boosted its holdings in Check Point Software Technologies by 3.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 1,797 shares of the technology company’s stock worth $346,000 after buying an additional 57 shares during the last quarter. Regatta Capital Group LLC boosted its holdings in Check Point Software Technologies by 4.9% in the 4th quarter. Regatta Capital Group LLC now owns 1,229 shares of the technology company’s stock worth $229,000 after buying an additional 57 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Check Point Software Technologies by 53.1% in the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after buying an additional 60 shares during the last quarter. Strategic Investment Advisors MI boosted its holdings in Check Point Software Technologies by 2.7% in the 4th quarter. Strategic Investment Advisors MI now owns 2,263 shares of the technology company’s stock worth $423,000 after buying an additional 60 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in Check Point Software Technologies by 5.2% in the 3rd quarter. Brighton Jones LLC now owns 1,337 shares of the technology company’s stock worth $258,000 after buying an additional 66 shares during the last quarter. 98.51% 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.