Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $215.00

Check Point Software Technologies (NASDAQ:CHKP) had its target price boosted by Scotiabank from $200.00 to $215.00 in a report published on Tuesday,Benzinga reports. They currently have a sector outperform rating on the technology company’s stock.

A number of other research analysts have also recently commented on CHKP. Cantor Fitzgerald initiated coverage on Check Point Software Technologies in a research note on Thursday, January 9th. They set a “neutral” rating and a $200.00 price objective on the stock. Evercore ISI upped their price target on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Robert W. Baird dropped their price objective on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Jefferies Financial Group upped their target price on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of 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. Seventeen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $203.05.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $196.38 on Tuesday. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $210.70. The firm has a market capitalization of $21.60 billion, a P/E ratio of 26.83, a P/E/G ratio of 3.03 and a beta of 0.63. The business’s 50-day simple moving average is $184.82 and its 200-day simple moving average is $186.21.

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

Institutional Investors Weigh In On Check Point Software Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can grew its holdings in shares of Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock valued at $16,532,000 after purchasing an additional 20,866 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in Check Point Software Technologies during the 3rd quarter valued at approximately $1,599,000. MML Investors Services LLC increased its position in Check Point Software Technologies by 3.7% in the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock worth $19,957,000 after buying an additional 3,655 shares during the period. Martin Investment Management LLC lifted its stake in Check Point Software Technologies by 2.0% in the third quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock valued at $31,497,000 after buying an additional 3,225 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC boosted its holdings in shares of Check Point Software Technologies by 69.6% during the third quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company’s stock valued at $4,502,000 after acquiring an additional 9,580 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

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.