Brokerages Set Check Point Software Technologies Ltd. (NASDAQ:CHKP) PT at $159.70

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has earned an average rating of “Hold” from the twenty-three brokerages that are currently covering the company, Marketbeat reports. Thirteen investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $159.70.

A number of analysts have commented on the stock. Wedbush reaffirmed an “outperform” rating and set a $185.00 price target on shares of Check Point Software Technologies in a research report on Wednesday. William Blair raised shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 31st. Wells Fargo & Company lifted their price target on Check Point Software Technologies from $132.00 to $162.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. UBS Group increased their price objective on Check Point Software Technologies from $140.00 to $170.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Finally, Royal Bank of Canada increased their target price on Check Point Software Technologies from $159.00 to $165.00 and gave the company a “sector perform” rating in a report on Wednesday, February 7th.

Institutional Investors Weigh In On Check Point Software Technologies

A number of institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in Check Point Software Technologies by 52.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 55,681 shares of the technology company’s stock valued at $8,508,000 after purchasing an additional 19,111 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new position in shares of Check Point Software Technologies during the fourth quarter valued at $1,505,000. Tritonpoint Wealth LLC purchased a new stake in shares of Check Point Software Technologies during the fourth quarter valued at $2,586,000. SG Americas Securities LLC raised its stake in Check Point Software Technologies by 81.9% during the 4th quarter. SG Americas Securities LLC now owns 27,303 shares of the technology company’s stock valued at $4,172,000 after buying an additional 12,297 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Check Point Software Technologies during the fourth quarter valued at approximately $47,160,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Stock Performance

NASDAQ:CHKP opened at $163.14 on Tuesday. The stock has a fifty day moving average price of $162.63 and a 200-day moving average price of $151.09. The company has a market cap of $19.70 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 2.66 and a beta of 0.61. Check Point Software Technologies has a fifty-two week low of $117.18 and a fifty-two week high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Tuesday, February 6th. The technology company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.10. The firm had revenue of $663.50 million for the quarter, compared to analysts’ expectations of $662.09 million. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.23 earnings per share. Research analysts predict that Check Point Software Technologies will post 7.85 EPS for the current fiscal year.

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 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.