BidaskClub downgraded shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) from a strong-buy rating to a buy rating in a report released on Tuesday morning.

Other research analysts also recently issued reports about the stock. Citigroup Inc. upped their target price on shares of Check Point Software Technologies from $111.00 to $112.00 and gave the company a neutral rating in a research report on Friday, July 21st. Cowen and Company reiterated a buy rating and issued a $113.00 price target on shares of Check Point Software Technologies in a research report on Friday, July 21st. BMO Capital Markets reiterated a market perform rating and issued a $116.00 price target (up from $110.00) on shares of Check Point Software Technologies in a research report on Friday, April 21st. Susquehanna Bancshares Inc started coverage on shares of Check Point Software Technologies in a research report on Wednesday, June 7th. They issued a positive rating and a $132.00 price target on the stock. Finally, Northland Securities reiterated a hold rating and issued a $120.00 price target on shares of Check Point Software Technologies in a research report on Friday, June 30th. Eighteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Check Point Software Technologies currently has an average rating of Hold and an average price target of $109.25.

Shares of Check Point Software Technologies (NASDAQ CHKP) traded up 0.14% during trading on Tuesday, hitting $106.57. 669,254 shares of the stock traded hands. Check Point Software Technologies has a 1-year low of $74.34 and a 1-year high of $116.63. The company has a market cap of $17.41 billion, a PE ratio of 23.65 and a beta of 0.73. The company has a 50 day moving average of $110.86 and a 200-day moving average of $104.69.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Thursday, July 20th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.04. Check Point Software Technologies had a net margin of 42.17% and a return on equity of 22.02%. The company had revenue of $458.60 million for the quarter, compared to the consensus estimate of $454.62 million. During the same period in the prior year, the company posted $1.09 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts anticipate that Check Point Software Technologies will post $5.18 EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of CHKP. BlackRock Inc. boosted its position in shares of Check Point Software Technologies by 1,778.0% in the first quarter. BlackRock Inc. now owns 5,160,771 shares of the technology company’s stock valued at $529,804,000 after buying an additional 4,885,975 shares in the last quarter. Harding Loevner LP boosted its position in shares of Check Point Software Technologies by 31.8% in the first quarter. Harding Loevner LP now owns 5,565,861 shares of the technology company’s stock valued at $571,391,000 after buying an additional 1,342,443 shares in the last quarter. FMR LLC boosted its position in shares of Check Point Software Technologies by 35.3% in the first quarter. FMR LLC now owns 3,107,897 shares of the technology company’s stock valued at $319,056,000 after buying an additional 810,843 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Check Point Software Technologies by 952.3% in the first quarter. Acadian Asset Management LLC now owns 706,402 shares of the technology company’s stock valued at $72,523,000 after buying an additional 639,271 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. acquired a new position in shares of Check Point Software Technologies during the first quarter valued at $48,250,000. 72.25% of the stock is owned by institutional investors.

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.

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

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