Needham & Company LLC Reaffirms “Hold” Rating for Check Point Software Technologies (NASDAQ:CHKP)

Needham & Company LLC reiterated their hold rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research note released on Friday morning, Benzinga reports.

CHKP has been the subject of several other research reports. Mizuho reissued a neutral rating and issued a $160.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, March 27th. Susquehanna raised their price objective on shares of Check Point Software Technologies from $190.00 to $200.00 and gave the company a positive rating in a research note on Wednesday, February 7th. Royal Bank of Canada raised their price objective on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the company a sector perform rating in a research note on Wednesday, February 7th. TD Cowen raised their price objective on shares of Check Point Software Technologies from $180.00 to $205.00 and gave the company an outperform rating in a research note on Monday, March 18th. Finally, Citigroup raised their price objective on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the company a neutral rating in a research note on Wednesday, January 10th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies currently has an average rating of Hold and an average price target of $164.00.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $151.20 on Friday. Check Point Software Technologies has a 1-year low of $117.18 and a 1-year high of $168.82. The stock has a market cap of $18.26 billion, a PE ratio of 21.00, a P/E/G ratio of 2.45 and a beta of 0.61. The firm has a 50-day simple moving average of $161.41 and a two-hundred day simple moving average of $153.14.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.72. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.30%. The business had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. As a group, sell-side analysts expect that Check Point Software Technologies will post 7.85 earnings per share for the current fiscal year.

Institutional Trading of Check Point Software Technologies

Institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its position in shares of 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 worth $8,508,000 after buying an additional 19,111 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of Check Point Software Technologies during the 4th quarter worth approximately $1,505,000. Tritonpoint Wealth LLC purchased a new stake in shares of Check Point Software Technologies during the 4th quarter worth approximately $2,586,000. SG Americas Securities LLC increased its holdings in shares of Check Point Software Technologies by 81.9% in the 4th quarter. SG Americas Securities LLC now owns 27,303 shares of the technology company’s stock valued at $4,172,000 after acquiring an additional 12,297 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at $47,160,000. Hedge funds and other institutional investors 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.