OTR Global Upgrades Check Point Software Technologies (CHKP) to Positive

OTR Global upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) to a positive rating in a research report report published on Friday, April 12th, The Fly reports.

A number of other research firms also recently commented on CHKP. Zacks Investment Research downgraded Check Point Software Technologies from a hold rating to a sell rating in a report on Wednesday, April 3rd. Credit Suisse Group reaffirmed a hold rating and set a $110.00 price target on shares of Check Point Software Technologies in a research note on Tuesday, January 29th. Evercore ISI reaffirmed a hold rating and set a $105.00 price target on shares of Check Point Software Technologies in a research note on Thursday, January 31st. Mizuho assumed coverage on Check Point Software Technologies in a research note on Tuesday, March 26th. They set a neutral rating and a $122.00 price target for the company. Finally, BidaskClub raised Check Point Software Technologies from a hold rating to a buy rating in a research note on Saturday, February 9th. Seventeen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $122.21.

Shares of NASDAQ CHKP traded up $1.35 during mid-day trading on Friday, hitting $119.94. 750,668 shares of the company were exchanged, compared to its average volume of 1,014,200. Check Point Software Technologies has a 1-year low of $95.03 and a 1-year high of $132.76. The company has a market cap of $19.60 billion, a PE ratio of 23.02, a P/E/G ratio of 2.48 and a beta of 0.75.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Thursday, April 18th. The technology company reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.01. Check Point Software Technologies had a return on equity of 22.41% and a net margin of 42.05%. The firm had revenue of $471.83 million during the quarter, compared to the consensus estimate of $471.16 million. During the same period last year, the company earned $1.30 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts expect that Check Point Software Technologies will post 5.51 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in CHKP. Ruggie Capital Group lifted its position in Check Point Software Technologies by 650.0% during the 4th quarter. Ruggie Capital Group now owns 300 shares of the technology company’s stock worth $31,000 after acquiring an additional 260 shares in the last quarter. Ledyard National Bank raised its position in shares of Check Point Software Technologies by 196.4% in the 4th quarter. Ledyard National Bank now owns 326 shares of the technology company’s stock valued at $33,000 after purchasing an additional 216 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Check Point Software Technologies by 45.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 358 shares of the technology company’s stock valued at $37,000 after purchasing an additional 112 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Check Point Software Technologies by 39,495.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,990,827 shares of the technology company’s stock valued at $39,000 after purchasing an additional 3,980,748 shares in the last quarter. Finally, First Personal Financial Services raised its position in shares of Check Point Software Technologies by 64.8% in the 1st quarter. First Personal Financial Services now owns 374 shares of the technology company’s stock valued at $47,000 after purchasing an additional 147 shares in the last quarter. 68.01% of the stock is currently owned by hedge funds and other institutional investors.

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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