Check Point Software Technologies (CHKP) Raised to “Strong-Buy” at BidaskClub

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BidaskClub upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a buy rating to a strong-buy rating in a report published on Wednesday morning.

A number of other equities analysts have also recently weighed in on CHKP. Evercore ISI reissued a hold rating and issued a $105.00 price target on shares of Check Point Software Technologies in a report on Thursday, January 31st. Credit Suisse Group reiterated a hold rating and issued a $110.00 target price on shares of Check Point Software Technologies in a research note on Tuesday, January 29th. Guggenheim initiated coverage on Check Point Software Technologies in a research note on Monday, December 10th. They issued a neutral rating and a $112.00 target price for the company. Finally, Jefferies Financial Group upped their target price on Check Point Software Technologies to $140.00 and gave the company a buy rating in a research note on Wednesday, January 30th. Sixteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Check Point Software Technologies has a consensus rating of Hold and an average target price of $116.89.

NASDAQ CHKP opened at $125.43 on Wednesday. Check Point Software Technologies has a fifty-two week low of $93.76 and a fifty-two week high of $128.11. The firm has a market capitalization of $20.62 billion, a PE ratio of 24.07, a P/E/G ratio of 2.38 and a beta of 0.79.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Wednesday, January 30th. The technology company reported $1.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.05. Check Point Software Technologies had a return on equity of 22.77% and a net margin of 42.85%. The company had revenue of $526.00 million during the quarter, compared to analysts’ expectations of $518.03 million. During the same period in the previous year, the firm posted $1.58 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that Check Point Software Technologies will post 5.49 EPS for the current year.

A number of large investors have recently made changes to their positions in CHKP. Bank of New York Mellon Corp increased its stake in Check Point Software Technologies by 7.3% during the second quarter. Bank of New York Mellon Corp now owns 344,462 shares of the technology company’s stock worth $33,647,000 after acquiring an additional 23,294 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Check Point Software Technologies by 7.9% during the third quarter. Janney Montgomery Scott LLC now owns 9,345 shares of the technology company’s stock worth $1,100,000 after acquiring an additional 681 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Check Point Software Technologies by 10.6% during the third quarter. Commonwealth Equity Services LLC now owns 7,834 shares of the technology company’s stock worth $921,000 after acquiring an additional 754 shares during the last quarter. Prudential Financial Inc. increased its stake in Check Point Software Technologies by 958.8% during the third quarter. Prudential Financial Inc. now owns 278,471 shares of the technology company’s stock worth $32,767,000 after acquiring an additional 252,170 shares during the last quarter. Finally, MML Investors Services LLC increased its stake in Check Point Software Technologies by 125.7% during the third quarter. MML Investors Services LLC now owns 4,666 shares of the technology company’s stock worth $549,000 after acquiring an additional 2,599 shares during the last quarter. Institutional investors own 67.15% 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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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

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