Check Point Software Technologies Ltd. receives (NASDAQ:CHKP) consensus recommendation on “Hold” from the brokerages

Shares of Check Point Software Technologies Ltd. were acquired. (NASDAQ:CHKP – Get Rating) has an average “moderate buy” recommendation from twenty-two analysts currently covering the stock, reports Marketbeat Ratings. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine analysts have given the company a buy rating. The average twelve-month price target among brokerages that have reported on the stock in the past year is $136.80.

CHKP has been the subject of several analyst reports. BMO Capital Markets lowered its price target on Check Point Software Technologies from $155.00 to $150.00 and assigned an “outperform” rating to the stock in a report released on Tuesday, August 2nd. Sumitomo Mitsui Financial Group begins coverage on Check Point Software Technologies in a report on Friday, October 7th. They issued a “neutral” rating and a price target of $115.00 per share. Barclays raised its price target on Check Point Software Technologies from $135.00 to $137.00 and gave the company an “equal” rating in a report released on Friday, October 28th. StockNews.com began covering Check Point Software Technologies in a report on Wednesday, October 12th. They have issued a “buy” rating on the stock. Finally, Wells Fargo & Company raised the price target on Check Point Software Technologies from $120.00 to $130.00 in a report on Friday, October 28th.

Check Point Software Technologies shares down 0.7%.

CHKP stock opened at $132.41 on Friday. Check Point Software Technologies posted a 52-week low of $107.54 and a 52-week high of $149.62. The stock’s 50-day simple moving average is $119.86 and its 200-day simple moving average is $121.70. The stock has a market capitalization of $16.61 billion, a price-to-earnings ratio of 21.67, a price-to-earnings growth ratio of 2.81 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last published its quarterly earnings data on Thursday, October 27th. The technology company reported earnings of $1.77 per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.10. Check Point Software Technologies had a return on equity of 26.20% and a net margin of 34.35%. The company had revenue of $577.60 million for the quarter, compared to analyst expectations of $571.78 million. During the same quarter last year, the company had earnings of $1.44 per share. The company’s revenue increased 8.2% year over year. As a group, analysts expect Check Point Software Technologies to report 6.38 earnings per share for the current fiscal year.

Institutional Trading of Check Point Software Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Tcwp LLC purchased a new interest in Check Point Software Technologies stock during the first quarter valued at $26,000. SeaCrest Wealth Management LLC purchased a new stake in Check Point Software Technologies stock during the second quarter worth approximately $33,000. MV Capital Management Inc. A new stake in Check Point Software Technologies stock during the first quarter worth approximately $45,000. Alta Advisers Ltd. purchased a new stake in Check Point Software Technologies stock during the third quarter for $45,000. Finally, Prospera Financial Services Inc. purchased a new stake in Check Point Software Technologies stock during the first quarter worth approximately $67,000. 67.03% of the shares are held by hedge funds and other institutional investors.

Check out Point Software Technologies company profile

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Check Point Software Technologies Ltd. Develops, markets and supports a range of IT security products and services worldwide. The company offers a range of network security, endpoint security, data security and management solutions. Check Point provides Infinity Architecture, a cybersecurity architecture that protects against 5G and 6G cyberattacks across various networks, endpoint, cloud, workloads, IoT, and mobile.

Further reading

Analyst recommendations for Check Point Software Technologies (NASDAQ: CHKP)

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