Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $190.00

Check Point Software Technologies (NASDAQ:CHKP) had its price target increased by Stifel Nicolaus from $182.00 to $190.00 in a research report sent to investors on Wednesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the technology company’s stock.

CHKP has been the topic of several other reports. Evercore ISI lifted their target price 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Mizuho upped their price objective on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird cut their target price on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, BMO Capital Markets upped their price target on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Fifteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $199.05.

Check Point Software Technologies Price Performance

CHKP stock opened at $188.05 on Wednesday. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $210.70. The business has a 50 day simple moving average of $186.59 and a two-hundred day simple moving average of $181.77. The company has a market capitalization of $20.68 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 3.21 and a beta of 0.63.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. DGS Capital Management LLC grew its position in Check Point Software Technologies by 0.7% in the 3rd quarter. DGS Capital Management LLC now owns 11,809 shares of the technology company’s stock valued at $2,277,000 after acquiring an additional 87 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Check Point Software Technologies by 7.0% during the third quarter. Franklin Resources Inc. now owns 166,641 shares of the technology company’s stock worth $34,665,000 after purchasing an additional 10,861 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in shares of Check Point Software Technologies by 0.8% during the third quarter. Peapack Gladstone Financial Corp now owns 111,316 shares of the technology company’s stock valued at $21,463,000 after purchasing an additional 872 shares during the period. Tidal Investments LLC grew its holdings in shares of Check Point Software Technologies by 3.1% in the third quarter. Tidal Investments LLC now owns 40,686 shares of the technology company’s stock worth $7,845,000 after purchasing an additional 1,224 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Check Point Software Technologies in the 3rd quarter worth about $187,000. Institutional investors 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.