Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $200.00 at Scotiabank

Check Point Software Technologies (NASDAQ:CHKP) had its price target hoisted by Scotiabank from $180.00 to $200.00 in a report issued on Thursday, Benzinga reports. They currently have a sector outperform rating on the technology company’s stock.

Several other equities analysts also recently commented on CHKP. Jefferies Financial Group upped their price objective on Check Point Software Technologies from $185.00 to $210.00 and gave the company a buy rating in a research report on Thursday. Royal Bank of Canada upped their price objective on Check Point Software Technologies from $165.00 to $187.00 and gave the company a sector perform rating in a research report on Thursday. Needham & Company LLC reaffirmed a hold rating on shares of Check Point Software Technologies in a research report on Thursday. Truist Financial reaffirmed a buy rating and issued a $200.00 price objective (up previously from $175.00) on shares of Check Point Software Technologies in a research report on Thursday. Finally, Mizuho reaffirmed a neutral rating and issued a $160.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. Fifteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $183.68.

Check Point Software Technologies Price Performance

NASDAQ:CHKP opened at $181.17 on Thursday. Check Point Software Technologies has a 1 year low of $125.68 and a 1 year high of $184.67. The stock’s 50 day simple moving average is $161.23 and its two-hundred day simple moving average is $160.01. The company has a market cap of $20.46 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 2.84 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. The firm had revenue of $627.40 million for the quarter, compared to the consensus estimate of $623.19 million. Check Point Software Technologies had a return on equity of 31.70% and a net margin of 33.61%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.74 EPS. As a group, analysts anticipate that Check Point Software Technologies will post 7.79 EPS for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Boston Partners boosted its position in Check Point Software Technologies by 13.1% during the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after purchasing an additional 419,404 shares in the last quarter. Ninety One UK Ltd lifted its position in shares of Check Point Software Technologies by 1.1% in the second quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock valued at $595,450,000 after acquiring an additional 39,092 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Check Point Software Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 2,674,761 shares of the technology company’s stock valued at $440,266,000 after acquiring an additional 77,849 shares in the last quarter. Morningstar Investment Services LLC lifted its position in shares of Check Point Software Technologies by 98.5% in the fourth quarter. Morningstar Investment Services LLC now owns 970,634 shares of the technology company’s stock valued at $148,080,000 after acquiring an additional 481,626 shares in the last quarter. Finally, Westwood Global Investments LLC lifted its position in shares of Check Point Software Technologies by 1.2% in the first quarter. Westwood Global Investments LLC now owns 807,862 shares of the technology company’s stock valued at $132,497,000 after acquiring an additional 9,838 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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.