Check Point Software Technologies (NASDAQ:CHKP) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a hold rating to a buy rating in a research report released on Tuesday morning.

CHKP has been the subject of several other reports. Roth Capital initiated coverage on Check Point Software Technologies in a report on Wednesday, April 23rd. They set a “neutral” rating and a $215.00 price objective for the company. Arete Research raised shares of Check Point Software Technologies to a “hold” rating in a research note on Monday, February 24th. Jefferies Financial Group increased their price objective on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Morgan Stanley lowered their target price on shares of Check Point Software Technologies from $235.00 to $220.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 price target on shares of Check Point Software Technologies in a research report on Monday, January 27th. Sixteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and a consensus target price of $232.04.

Check Point Software Technologies Trading Up 0.8%

Shares of CHKP stock opened at $216.10 on Tuesday. The firm has a market capitalization of $23.77 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 3.41 and a beta of 0.66. The firm’s 50 day moving average is $219.48 and its 200-day moving average is $203.05. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.02. The firm had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.04 EPS. On average, equities research analysts forecast that Check Point Software Technologies will post 8.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CHKP. Norges Bank acquired a new position in Check Point Software Technologies during the 4th quarter worth approximately $428,820,000. Causeway Capital Management LLC boosted its holdings in Check Point Software Technologies by 33.8% during the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock worth $360,257,000 after purchasing an additional 487,823 shares during the last quarter. Ameriprise Financial Inc. grew its position in Check Point Software Technologies by 28.1% in the first quarter. Ameriprise Financial Inc. now owns 1,830,874 shares of the technology company’s stock valued at $417,280,000 after purchasing an additional 401,150 shares in the last quarter. First Trust Advisors LP increased its stake in Check Point Software Technologies by 17.4% in the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock valued at $340,314,000 after buying an additional 269,925 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Check Point Software Technologies by 2.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,687,393 shares of the technology company’s stock worth $384,591,000 after buying an additional 46,713 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors.

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.