Check Point Software Technologies (NASDAQ:CHKP) Sets New 12-Month High – Still a Buy?

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $213.00 and last traded at $217.58, with a volume of 4353 shares. The stock had previously closed at $203.90.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $200.00 price objective on shares of Check Point Software Technologies in a research report on Monday. Wedbush increased their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Royal Bank of Canada restated a “sector perform” rating and set a $187.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Truist Financial increased their price target on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 24th. Seventeen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Check Point Software Technologies has an average rating of “Hold” and an average price target of $205.10.

Check Point Software Technologies Trading Up 9.0 %

The firm has a market capitalization of $24.43 billion, a PE ratio of 30.33, a P/E/G ratio of 3.05 and a beta of 0.63. The firm’s fifty day moving average price is $187.20 and its 200 day moving average price is $187.22.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25. The business had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.80 earnings per share. On average, analysts predict that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

A number of hedge funds have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its stake in Check Point Software Technologies by 10.7% during 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 during the last quarter. FMR LLC boosted its position in Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after acquiring an additional 252,581 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 acquiring an additional 464,821 shares in the last quarter. Boston Trust Walden Corp raised its holdings in Check Point Software Technologies by 26.9% in the 4th quarter. Boston Trust Walden Corp now owns 487,283 shares of the technology company’s stock valued at $90,976,000 after acquiring an additional 103,388 shares during the last quarter. Finally, Swedbank AB boosted its holdings in shares of Check Point Software Technologies by 1.1% during the 4th quarter. Swedbank AB now owns 428,042 shares of the technology company’s stock worth $79,915,000 after purchasing an additional 4,760 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Check Point Software Technologies Company Profile

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.