Check Point Software Technologies (NASDAQ:CHKP) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research report report published on Friday, Benzinga reports.

Several other equities research analysts have also recently issued reports on CHKP. Susquehanna lifted their target price on Check Point Software Technologies from $190.00 to $200.00 and gave the stock a positive rating in a report on Wednesday, February 7th. Wedbush reiterated an outperform rating and set a $185.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, April 10th. UBS Group raised their price target on shares of Check Point Software Technologies from $140.00 to $170.00 and gave the stock a neutral rating in a research note on Wednesday, January 10th. Truist Financial upped their target price on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the stock a buy rating in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada raised their price objective 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 MarketBeat, Check Point Software Technologies currently has a consensus rating of Hold and an average price target of $164.00.

Check Point Software Technologies Stock Down 1.1 %

NASDAQ CHKP opened at $151.20 on Friday. The stock’s 50-day moving average price is $161.41 and its 200-day moving average price is $152.89. The company has a market capitalization of $18.26 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. Check Point Software Technologies has a 52 week low of $117.18 and a 52 week high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $1.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.72. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.30%. The firm had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. Research analysts anticipate that Check Point Software Technologies will post 7.85 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CHKP. Concord Wealth Partners acquired a new position in shares of Check Point Software Technologies in the third quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new position in Check Point Software Technologies in the 4th quarter worth about $30,000. CNB Bank purchased a new position in Check Point Software Technologies during the third quarter worth approximately $27,000. Richardson Financial Services Inc. purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at approximately $33,000. Finally, Salem Investment Counselors Inc. raised its stake in shares of Check Point Software Technologies by 483.7% during the 4th quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock worth $44,000 after buying an additional 237 shares during the period. 87.62% of the stock is 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 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.