Check Point Software Technologies’ (CHKP) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research report report published on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a $187.00 price objective on the technology company’s stock.

CHKP has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday. Jefferies Financial Group lifted their price objective on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price target on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Barclays lowered their price target on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Mizuho lifted their target price on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Fifteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $197.74.

Check Point Software Technologies Price Performance

CHKP stock opened at $170.50 on Wednesday. Check Point Software Technologies has a 12 month low of $134.72 and a 12 month high of $210.70. The company has a market cap of $18.75 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 2.71 and a beta of 0.62. The company has a fifty day moving average price of $194.47 and a 200 day moving average price of $174.75.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting the consensus estimate of $2.25. The business had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.80 earnings per share. As a group, analysts anticipate that Check Point Software Technologies will post 7.84 earnings per share for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

Institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new stake in shares of Check Point Software Technologies during the first quarter worth about $6,558,000. Quantbot Technologies LP acquired a new stake in Check Point Software Technologies in the first quarter valued at $1,095,000. Allspring Global Investments Holdings LLC lifted its holdings in Check Point Software Technologies by 8.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 97,434 shares of the technology company’s stock worth $15,980,000 after buying an additional 7,357 shares during the last quarter. M&G Plc boosted its holdings in shares of Check Point Software Technologies by 10.0% in the 2nd quarter. M&G Plc now owns 108,449 shares of the technology company’s stock valued at $17,894,000 after buying an additional 9,830 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Check Point Software Technologies in the first quarter worth about $2,928,000. Institutional investors and hedge funds 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.