Check Point Software Technologies (NASDAQ:CHKP) Receives New Coverage from Analysts at Guggenheim

Guggenheim initiated coverage on shares of Check Point Software Technologies (NASDAQ:CHKP – Get Rating) in a research report sent to investors on Monday, The Fly reports. The firm issued a neutral rating on the technology company’s stock.

CHKP has been the topic of a number of other reports. Barclays boosted their price target on shares of Check Point Software Technologies from $135.00 to $137.00 and gave the company an equal weight rating in a research report on Friday, October 28th. Macquarie began coverage on shares of Check Point Software Technologies in a research report on Wednesday, November 2nd. They issued a neutral rating and a $129.00 price target on the stock. Piper Sandler boosted their price target on shares of Check Point Software Technologies from $125.00 to $130.00 in a research report on Thursday, January 5th. Sumitomo Mitsui Financial Group began coverage on shares of Check Point Software Technologies in a research report on Friday, October 7th. They issued a neutral rating and a $115.00 price target on the stock. Finally, Wells Fargo & Company upgraded shares of Check Point Software Technologies from an underweight rating to an equal weight rating and set a $130.00 price target on the stock in a research report on Tuesday, January 17th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $138.86.

Check Point Software Technologies Stock Performance

Shares of Check Point Software Technologies stock opened at $129.03 on Monday. The firm’s 50-day simple moving average is $129.30 and its 200-day simple moving average is $123.47. Check Point Software Technologies has a twelve month low of $107.54 and a twelve month high of $149.62. The firm has a market cap of $16.18 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.59 and a beta of 0.68.

Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last issued its earnings results on Thursday, October 27th. The technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.06. Check Point Software Technologies had a net margin of 34.35% and a return on equity of 26.20%. The business had revenue of $577.60 million for the quarter, compared to analyst estimates of $571.78 million. During the same period in the previous year, the business earned $1.44 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts forecast that Check Point Software Technologies will post 6.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. CWM LLC grew its holdings in Check Point Software Technologies by 2.6% during the second quarter. CWM LLC now owns 65,621 shares of the technology company’s stock valued at $7,991,000 after purchasing an additional 1,649 shares during the period. Dixon Hubard Feinour & Brown Inc. VA acquired a new position in Check Point Software Technologies during the second quarter valued at approximately $258,000. Axiom Investors LLC DE grew its holdings in Check Point Software Technologies by 24.2% during the second quarter. Axiom Investors LLC DE now owns 285,630 shares of the technology company’s stock valued at $34,784,000 after purchasing an additional 55,746 shares during the period. SG Americas Securities LLC grew its holdings in Check Point Software Technologies by 138.3% during the second quarter. SG Americas Securities LLC now owns 27,000 shares of the technology company’s stock valued at $3,288,000 after purchasing an additional 15,670 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Check Point Software Technologies by 150.0% in the second quarter. Cubist Systematic Strategies LLC now owns 98,593 shares of the technology company’s stock valued at $12,007,000 after buying an additional 59,159 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.

Check Point Software Technologies Company Profile

(Get Rating)

Check Point Software Technologies Ltd. is engaged in the development and marketing of software and hardware solutions for information technology security. Its products include Quantum, CloudGuard, Harmony, and Infinity-Vision. The company was founded by Gil Shwed, Marius Nacht, and Shlomo Kramer in July 1993 and is headquartered in Tel Aviv, Israel.