Cantor Fitzgerald Begins Coverage on Check Point Software Technologies (NASDAQ:CHKP)

Research analysts at Cantor Fitzgerald started coverage on shares of Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) in a note issued to investors on Thursday,Benzinga reports. The brokerage set a "neutral" rating and a $200.00 price target on the technology company's stock. Cantor Fitzgerald's target price would suggest a potential upside of 9.18% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Bank of America lowered Check Point Software Technologies from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $205.00 to $195.00 in a report on Wednesday, October 30th. BMO Capital Markets lifted their price target on Check Point Software Technologies from $200.00 to $238.00 and gave the company a "market perform" rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a "neutral" rating in a research note on Monday, October 28th. Finally, Barclays cut their target price on Check Point Software Technologies from $210.00 to $200.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 29th. Eighteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $199.27.

Check Point Software Technologies Stock Up 0.9 %

NASDAQ:CHKP traded up $1.71 during midday trading on Thursday, hitting $183.19. The stock had a trading volume of 963,613 shares, compared to its average volume of 866,405. The stock has a 50-day moving average of $182.64 and a 200 day moving average of $184.60. The company has a market capitalization of $20.15 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 3.21 and a beta of 0.63. Check Point Software Technologies has a one year low of $145.75 and a one year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting the consensus estimate of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The firm had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same quarter last year, the firm posted $1.80 earnings per share. The business's revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that Check Point Software Technologies will post 7.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Check Point Software Technologies by 73.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company's stock valued at $211,105,000 after buying an additional 464,821 shares during the last quarter. Marshall Wace LLP acquired a new stake in Check Point Software Technologies during the second quarter worth about $47,244,000. World Investment Advisors LLC purchased a new position in Check Point Software Technologies during the third quarter valued at approximately $51,922,000. FMR LLC lifted its holdings in Check Point Software Technologies by 28.7% in the third quarter. FMR LLC now owns 1,133,175 shares of the technology company's stock valued at $218,488,000 after acquiring an additional 252,581 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Check Point Software Technologies by 10.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company's stock worth $354,153,000 after purchasing an additional 177,104 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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.