Check Point Software Technologies (NASDAQ:CHKP) Issues Quarterly Earnings Results, Hits Estimates

Check Point Software Technologies (NASDAQ:CHKP) posted its earnings results on Thursday. The technology company reported $1.72 EPS for the quarter, hitting the consensus estimate of $1.72, reports. Check Point Software Technologies had a return on equity of 31.30% and a net margin of 34.33%. The business had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million.

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP opened at $151.20 on Friday. The firm has a market capitalization of $18.26 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.48 and a beta of 0.61. The stock has a 50 day moving average price of $161.41 and a 200-day moving average price of $152.89. Check Point Software Technologies has a 52-week low of $117.18 and a 52-week high of $168.82.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. UBS Group boosted their target price on Check Point Software Technologies from $140.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Wells Fargo & Company upped their price objective on Check Point Software Technologies from $132.00 to $162.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Barclays upped their price objective on Check Point Software Technologies from $170.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday. Wedbush reiterated an “outperform” rating and issued a $185.00 price objective on shares of Check Point Software Technologies in a report on Friday. Finally, Susquehanna upped their price objective 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. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $164.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Concord Wealth Partners bought a new position in Check Point Software Technologies during the 3rd quarter valued at approximately $25,000. CNB Bank bought a new position in Check Point Software Technologies during the 3rd quarter valued at approximately $27,000. Bruce G. Allen Investments LLC bought a new position in Check Point Software Technologies during the 4th quarter valued at approximately $30,000. Richardson Financial Services Inc. bought a new position in Check Point Software Technologies during the 4th quarter valued at approximately $33,000. Finally, Salem Investment Counselors Inc. increased its position in 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 valued at $44,000 after buying an additional 237 shares in the last quarter. 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.