Check Point Software Technologies (CHKP) Upgraded to “Buy” at ValuEngine

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Check Point Software Technologies (NASDAQ:CHKP) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Wednesday, ValuEngine reports.

A number of other equities research analysts also recently weighed in on CHKP. BidaskClub downgraded Check Point Software Technologies from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Zacks Investment Research downgraded Check Point Software Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. BMO Capital Markets reissued an “outperform” rating and issued a $125.00 price target (up previously from $120.00) on shares of Check Point Software Technologies in a report on Monday, April 22nd. Northland Securities reissued a “hold” rating and issued a $120.00 price target on shares of Check Point Software Technologies in a report on Monday, April 22nd. Finally, Evercore ISI reissued a “hold” rating and issued a $105.00 price target on shares of Check Point Software Technologies in a report on Thursday, January 31st. Seventeen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $122.21.

CHKP stock traded up $0.61 during trading on Wednesday, reaching $119.20. 5,674 shares of the company traded hands, compared to its average volume of 1,017,337. Check Point Software Technologies has a 12 month low of $95.03 and a 12 month high of $132.76. The company has a market cap of $19.74 billion, a P/E ratio of 22.97, a PEG ratio of 2.48 and a beta of 0.75.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Thursday, April 18th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.01. Check Point Software Technologies had a return on equity of 22.41% and a net margin of 42.05%. The company had revenue of $471.83 million for the quarter, compared to the consensus estimate of $471.16 million. During the same quarter last year, the company earned $1.30 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, sell-side analysts predict that Check Point Software Technologies will post 5.51 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. Pillar Pacific Capital Management LLC lifted its holdings in shares of Check Point Software Technologies by 15.1% during the first quarter. Pillar Pacific Capital Management LLC now owns 37,942 shares of the technology company’s stock worth $4,800,000 after purchasing an additional 4,980 shares during the period. Lenox Wealth Management Inc. lifted its holdings in shares of Check Point Software Technologies by 1.7% during the first quarter. Lenox Wealth Management Inc. now owns 18,017 shares of the technology company’s stock worth $2,279,000 after purchasing an additional 301 shares during the period. Rhumbline Advisers lifted its holdings in shares of Check Point Software Technologies by 1.1% during the first quarter. Rhumbline Advisers now owns 42,752 shares of the technology company’s stock worth $5,408,000 after purchasing an additional 446 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of Check Point Software Technologies during the first quarter worth about $232,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Check Point Software Technologies by 20.8% during the first quarter. Parallel Advisors LLC now owns 2,372 shares of the technology company’s stock worth $300,000 after purchasing an additional 409 shares during the period. 68.01% of the stock is owned by hedge funds and other 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 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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Analyst Recommendations for Check Point Software Technologies (NASDAQ:CHKP)

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