BMO Capital Markets Cuts Check Point Software Technologies (NASDAQ:CHKP) Price Target to $150.00

Check Point Software Technologies (NASDAQ:CHKPGet Rating) had its price target cut by BMO Capital Markets from $155.00 to $150.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other brokerages have also issued reports on CHKP. Piper Sandler cut their target price on shares of Check Point Software Technologies from $130.00 to $120.00 in a research report on Wednesday, July 13th. Wedbush upped their price target on shares of Check Point Software Technologies from $142.00 to $155.00 and gave the stock an outperform rating in a research report on Thursday, April 14th. Bank of America upgraded shares of Check Point Software Technologies from an underperform rating to a buy rating and upped their price target for the stock from $130.00 to $140.00 in a research report on Wednesday, July 20th. Jefferies Financial Group dropped their price target on shares of Check Point Software Technologies from $145.00 to $130.00 in a research report on Monday, May 23rd. Finally, Wells Fargo & Company dropped their price target on shares of Check Point Software Technologies from $144.00 to $130.00 in a research report on Thursday, April 28th. Six analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $138.00.

Check Point Software Technologies Trading Up 0.8 %

Shares of NASDAQ CHKP opened at $118.83 on Tuesday. The firm has a 50 day moving average of $123.66 and a 200 day moving average of $129.31. The firm has a market capitalization of $14.90 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 2.61 and a beta of 0.60. Check Point Software Technologies has a 12-month low of $107.85 and a 12-month high of $149.62.

Check Point Software Technologies (NASDAQ:CHKPGet Rating) last announced its earnings results on Monday, August 1st. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.02. The company had revenue of $571.10 million during the quarter, compared to analyst estimates of $560.40 million. Check Point Software Technologies had a net margin of 35.15% and a return on equity of 25.49%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 earnings per share. Sell-side analysts predict that Check Point Software Technologies will post 6.18 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in Check Point Software Technologies by 2.1% during the first quarter. BlackRock Inc. now owns 5,885,211 shares of the technology company’s stock valued at $813,690,000 after acquiring an additional 118,649 shares during the last quarter. Ninety One UK Ltd grew its holdings in shares of Check Point Software Technologies by 3.5% in the first quarter. Ninety One UK Ltd now owns 3,430,724 shares of the technology company’s stock worth $474,332,000 after purchasing an additional 117,040 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Check Point Software Technologies by 11.7% in the first quarter. Nordea Investment Management AB now owns 3,303,458 shares of the technology company’s stock worth $459,379,000 after purchasing an additional 345,565 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Check Point Software Technologies by 7.1% in the fourth quarter. Acadian Asset Management LLC now owns 2,045,176 shares of the technology company’s stock worth $238,341,000 after purchasing an additional 136,035 shares during the last quarter. Finally, Boston Partners grew its holdings in shares of Check Point Software Technologies by 17,268.0% in the first quarter. Boston Partners now owns 1,873,144 shares of the technology company’s stock worth $259,013,000 after purchasing an additional 1,862,359 shares during the last quarter. Institutional investors own 91.96% of the company’s stock.

Check Point Software Technologies Company Profile

(Get Rating)

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 security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.

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