Check Point Software Technologies (NASDAQ:CHKP) had its price target lifted by investment analysts at Oppenheimer from $130.00 to $145.00 in a research note issued to investors on Monday, BenzingaRatingsTable reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target suggests a potential upside of 10.10% from the stock’s current price.
CHKP has been the topic of several other reports. Zacks Investment Research upgraded Check Point Software Technologies from a “sell” rating to a “hold” rating in a research report on Thursday. OTR Global upgraded Check Point Software Technologies to a “positive” rating in a research note on Friday. BidaskClub upgraded Check Point Software Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, February 9th. Credit Suisse Group reiterated a “hold” rating and set a $110.00 price objective on shares of Check Point Software Technologies in a research note on Tuesday, January 29th. Finally, Jefferies Financial Group lifted their price objective on Check Point Software Technologies to $140.00 and gave the company a “buy” rating in a research note on Wednesday, January 30th. Seventeen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $120.84.
Shares of NASDAQ CHKP traded up $1.30 during mid-day trading on Monday, hitting $131.70. 28,294 shares of the stock traded hands, compared to its average volume of 916,650. Check Point Software Technologies has a 52 week low of $93.76 and a 52 week high of $131.57. The firm has a market capitalization of $21.31 billion, a PE ratio of 25.27, a P/E/G ratio of 2.37 and a beta of 0.79.
Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Wednesday, January 30th. The technology company reported $1.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.05. Check Point Software Technologies had a return on equity of 22.77% and a net margin of 42.85%. The company had revenue of $526.00 million for the quarter, compared to analyst estimates of $518.03 million. During the same period in the previous year, the company posted $1.58 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. On average, research analysts predict that Check Point Software Technologies will post 5.49 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Trinity Legacy Partners LLC purchased a new position in shares of Check Point Software Technologies in the fourth quarter worth $215,000. Morgan Stanley increased its position in Check Point Software Technologies by 151.1% during the third quarter. Morgan Stanley now owns 426,431 shares of the technology company’s stock valued at $50,180,000 after acquiring an additional 256,607 shares during the last quarter. One Wealth Advisors LLC increased its position in Check Point Software Technologies by 5.3% during the fourth quarter. One Wealth Advisors LLC now owns 3,000 shares of the technology company’s stock valued at $308,000 after acquiring an additional 151 shares during the last quarter. Suntrust Banks Inc. grew its holdings in Check Point Software Technologies by 2.6% during the fourth quarter. Suntrust Banks Inc. now owns 21,103 shares of the technology company’s stock valued at $2,166,000 after purchasing an additional 526 shares during the period. Finally, Manning & Napier Group LLC grew its holdings in Check Point Software Technologies by 39.4% during the fourth quarter. Manning & Napier Group LLC now owns 30,620 shares of the technology company’s stock valued at $3,142,000 after purchasing an additional 8,655 shares during the period. Hedge funds and other institutional investors own 68.02% 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 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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