Check Point Software Technologies’ (CHKP) “Buy” Rating Reiterated at Cowen and Company

Cowen and Company reiterated their buy rating on shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) in a report released on Friday. Cowen and Company currently has a $113.00 price objective on the technology company’s stock.

CHKP has been the subject of several other reports. Argus restated a buy rating and set a $124.00 target price (up from $115.00) on shares of Check Point Software Technologies in a research report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reiterated an outperform rating and issued a $128.00 price objective on shares of Check Point Software Technologies in a report on Tuesday, August 15th. BMO Capital Markets reiterated a market perform rating and issued a $115.00 price objective (down from $117.00) on shares of Check Point Software Technologies in a report on Friday, July 21st. Credit Suisse Group began coverage on Check Point Software Technologies in a report on Tuesday, September 5th. They issued a neutral rating and a $110.00 price objective for the company. Finally, BidaskClub upgraded Check Point Software Technologies from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. Eighteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $110.64.

Shares of Check Point Software Technologies (CHKP) opened at 112.63 on Friday. Check Point Software Technologies has a 1-year low of $74.34 and a 1-year high of $116.63. The company has a 50-day moving average price of $107.98 and a 200 day moving average price of $106.94. The firm has a market capitalization of $18.40 billion, a price-to-earnings ratio of 24.99 and a beta of 0.73.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Thursday, July 20th. The technology company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.04. Check Point Software Technologies had a return on equity of 22.02% and a net margin of 42.17%. The business had revenue of $458.60 million during the quarter, compared to analysts’ expectations of $454.62 million. During the same period in the previous year, the business earned $1.09 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. On average, equities research analysts predict that Check Point Software Technologies will post $5.18 EPS for the current year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHKP. IFP Advisors Inc raised its position in Check Point Software Technologies by 2.4% during the 1st quarter. IFP Advisors Inc now owns 1,513 shares of the technology company’s stock valued at $155,000 after purchasing an additional 36 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Check Point Software Technologies by 5.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,678 shares of the technology company’s stock valued at $1,199,000 after purchasing an additional 600 shares during the last quarter. American Century Companies Inc. bought a new position in Check Point Software Technologies during the 1st quarter valued at approximately $267,000. Comerica Bank raised its position in Check Point Software Technologies by 12.4% during the 1st quarter. Comerica Bank now owns 22,596 shares of the technology company’s stock valued at $2,358,000 after purchasing an additional 2,494 shares during the last quarter. Finally, Trust Co. of Vermont raised its position in Check Point Software Technologies by 6.0% during the 1st quarter. Trust Co. of Vermont now owns 1,775 shares of the technology company’s stock valued at $182,000 after purchasing an additional 100 shares during the last quarter. 67.82% of the stock is owned by institutional investors and hedge funds.

About Check Point Software Technologies

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

Analyst Recommendations for Check Point Software Technologies (NASDAQ:CHKP)

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