Analysts Set Check Point Software Technologies Ltd. (NASDAQ:CHKP) Target Price at $124.15
Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) have been assigned a consensus rating of “Hold” from the eighteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $124.15.
A number of research firms recently issued reports on CHKP. BidaskClub lowered Check Point Software Technologies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 20th. ValuEngine downgraded Check Point Software Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. OTR Global lowered Check Point Software Technologies to a “positive” rating in a research note on Tuesday, July 16th. Evercore ISI set a $105.00 target price on Check Point Software Technologies and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Finally, Cowen began coverage on Check Point Software Technologies in a research note on Thursday, May 23rd. They issued a “market perform” rating and a $120.00 target price on the stock.
Shares of CHKP traded up $0.61 during trading hours on Friday, hitting $111.89. The company’s stock had a trading volume of 37,223 shares, compared to its average volume of 805,763. The company has a market cap of $16.94 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 2.27 and a beta of 0.79. The business has a 50 day simple moving average of $109.47 and a two-hundred day simple moving average of $116.86. Check Point Software Technologies has a 52-week low of $98.57 and a 52-week high of $132.76.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC boosted its position in Check Point Software Technologies by 63.8% during the 2nd quarter. CWM LLC now owns 42,322 shares of the technology company’s stock valued at $4,893,000 after acquiring an additional 16,481 shares in the last quarter. Carnick & Kubik Group LLC purchased a new stake in Check Point Software Technologies in the second quarter worth approximately $838,000. Sumitomo Mitsui Asset Management Company LTD grew its position in Check Point Software Technologies by 3.7% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,456 shares of the technology company’s stock worth $1,196,000 after purchasing an additional 340 shares during the period. M&T Bank Corp grew its position in Check Point Software Technologies by 10.1% in the 2nd quarter. M&T Bank Corp now owns 13,486 shares of the technology company’s stock worth $1,559,000 after purchasing an additional 1,241 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Check Point Software Technologies by 1.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,479 shares of the technology company’s stock valued at $1,199,000 after buying an additional 115 shares during the last quarter. 70.84% of the stock is currently owned by institutional investors and hedge funds.
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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.
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