Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $225.00

Check Point Software Technologies (NASDAQ:CHKP) had its price objective lifted by Jefferies Financial Group from $220.00 to $225.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

CHKP has been the subject of several other research reports. Bank of America downgraded shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $205.00 to $195.00 in a research note on Wednesday, October 30th. Evercore ISI raised their price objective on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Stifel Nicolaus upped their target price on Check Point Software Technologies from $182.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $187.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $199.05.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $188.05 on Thursday. Check Point Software Technologies has a fifty-two week low of $145.75 and a fifty-two week high of $210.70. The stock’s fifty day moving average price is $186.59 and its two-hundred day moving average price is $181.99. The company has a market cap of $20.68 billion, a PE ratio of 25.69, a P/E/G ratio of 3.21 and a beta of 0.63.

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 for the quarter, meeting the consensus estimate of $2.25. The business had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. Check Point Software Technologies’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.80 earnings per share. On average, equities analysts predict that Check Point Software Technologies will post 7.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CHKP. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Check Point Software Technologies by 73.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock valued at $211,105,000 after purchasing an additional 464,821 shares during the period. Acadian Asset Management LLC raised its stake in Check Point Software Technologies by 10.5% during the 2nd quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after buying an additional 391,983 shares during the period. Marshall Wace LLP acquired a new position in Check Point Software Technologies during the 2nd quarter worth approximately $47,244,000. World Investment Advisors LLC acquired a new stake in Check Point Software Technologies in the third quarter valued at approximately $51,922,000. Finally, FMR LLC increased its holdings in shares of Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after acquiring an additional 252,581 shares in the last quarter. 98.51% of the stock is owned by institutional investors.

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.