Check Point Software Technologies (NASDAQ:CHKP) Now Covered by Analysts at Goldman Sachs Group

Goldman Sachs Group initiated coverage on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research note issued to investors on Tuesday, The Fly reports. The firm set a “neutral” rating and a $123.00 price target on the technology company’s stock. Goldman Sachs Group’s target price would indicate a potential upside of 6.15% from the company’s previous close.

CHKP has been the subject of several other research reports. ValuEngine lowered shares of Check Point Software Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. UBS Group cut their price target on shares of Check Point Software Technologies from $122.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Evercore ISI set a $105.00 price target on shares of Check Point Software Technologies and gave the stock a “hold” rating in a report on Wednesday, July 24th. Piper Jaffray Companies began coverage on shares of Check Point Software Technologies in a report on Friday. They issued a “neutral” rating and a $117.00 price target for the company. Finally, SunTrust Banks began coverage on shares of Check Point Software Technologies in a report on Wednesday, October 2nd. They issued a “hold” rating and a $115.00 price target for the company. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $118.72.

Shares of NASDAQ CHKP opened at $115.87 on Tuesday. The firm has a market cap of $17.57 billion, a PE ratio of 22.24, a PEG ratio of 2.47 and a beta of 0.78. The firm has a fifty day moving average of $109.95 and a 200 day moving average of $112.67. Check Point Software Technologies has a one year low of $98.57 and a one year high of $132.76.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.40 by $0.04. The company had revenue of $490.91 million during the quarter, compared to analyst estimates of $490.94 million. Check Point Software Technologies had a net margin of 40.05% and a return on equity of 21.86%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 EPS. As a group, research analysts predict that Check Point Software Technologies will post 5.51 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC boosted its position in shares of Check Point Software Technologies by 8.4% during the 3rd quarter. Cetera Advisor Networks LLC now owns 3,582 shares of the technology company’s stock valued at $393,000 after acquiring an additional 279 shares during the last quarter. Condor Capital Management boosted its position in shares of Check Point Software Technologies by 1.0% during the 3rd quarter. Condor Capital Management now owns 27,094 shares of the technology company’s stock valued at $2,967,000 after acquiring an additional 266 shares during the last quarter. Torray LLC boosted its position in shares of Check Point Software Technologies by 1.9% during the 3rd quarter. Torray LLC now owns 125,922 shares of the technology company’s stock valued at $13,788,000 after acquiring an additional 2,375 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Check Point Software Technologies by 6.0% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 241,070 shares of the technology company’s stock valued at $26,398,000 after acquiring an additional 13,675 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Check Point Software Technologies by 10.5% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 242,098 shares of the technology company’s stock valued at $26,510,000 after acquiring an additional 22,967 shares during the last quarter. 70.50% of the stock is 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 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.

Featured Story: Most Active Stocks

The Fly

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

Receive News & Ratings for Check Point Software Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Check Point Software Technologies and related companies with MarketBeat.com's FREE daily email newsletter.