The Check Point Software Technologies Ltd. (CHKP) Rating Increased to Positive at OTR Global

The Check Point Software Technologies Ltd. (CHKP) Rating Increased to Positive at OTR Global

OTR Global upgraded shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) to a positive rating in a report published on Friday morning.

A number of other research analysts have also commented on CHKP. Zacks Investment Research upgraded shares of Check Point Software Technologies from a sell rating to a hold rating in a research report on Thursday, September 15th. Wells Fargo & Company reaffirmed a market perform rating on shares of Check Point Software Technologies in a report on Monday, September 26th. Piper Jaffray Cos. initiated coverage on shares of Check Point Software Technologies in a report on Wednesday, September 28th. They set an overweight rating and a $95.00 price objective for the company. Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $94.00 price objective on shares of Check Point Software Technologies in a report on Monday, October 10th. Finally, Deutsche Bank AG reaffirmed a hold rating on shares of Check Point Software Technologies in a report on Saturday, October 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $92.59.

Shares of Check Point Software Technologies (NASDAQ:CHKP) opened at 89.61 on Friday. Check Point Software Technologies has a one year low of $72.44 and a one year high of $92.23. The firm’s 50-day moving average price is $85.65 and its 200-day moving average price is $80.43. The firm has a market capitalization of $15.15 billion, a P/E ratio of 22.59 and a beta of 0.87.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Monday, October 31st. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The firm earned $428 million during the quarter, compared to analyst estimates of $422.79 million. Check Point Software Technologies had a net margin of 40.73% and a return on equity of 20.32%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.04 EPS. On average, equities analysts forecast that Check Point Software Technologies will post $4.52 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Schroder Investment Management Group increased its position in shares of Check Point Software Technologies by 21.2% in the third quarter. Schroder Investment Management Group now owns 5,693,288 shares of the company’s stock valued at $441,856,000 after buying an additional 996,144 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt increased its position in shares of Check Point Software Technologies by 27.7% in the third quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,245,000 shares of the company’s stock valued at $329,412,000 after buying an additional 920,000 shares in the last quarter. FMR LLC increased its position in shares of Check Point Software Technologies by 17.8% in the second quarter. FMR LLC now owns 4,170,635 shares of the company’s stock valued at $332,316,000 after buying an additional 629,802 shares in the last quarter. Harding Loevner LP purchased a new position in shares of Check Point Software Technologies during the third quarter valued at about $188,714,000. Finally, Vulcan Value Partners LLC increased its position in shares of Check Point Software Technologies by 111.9% in the second quarter. Vulcan Value Partners LLC now owns 2,206,298 shares of the company’s stock valued at $175,798,000 after buying an additional 1,165,059 shares in the last quarter. Hedge funds and other institutional investors own 71.76% of the company’s stock.

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.

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