Check Point Software Technologies (NASDAQ:CHKP) PT Raised to $160.00

Check Point Software Technologies (NASDAQ:CHKPGet Free Report) had its target price boosted by research analysts at Mizuho from $150.00 to $160.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Mizuho’s price objective would indicate a potential downside of 1.95% from the stock’s previous close.

A number of other research firms also recently weighed in on CHKP. Susquehanna began coverage on shares of Check Point Software Technologies in a research note on Friday, December 15th. They set a “positive” rating on the stock. Bank of America increased their price objective on shares of Check Point Software Technologies from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, November 24th. Truist Financial increased their price objective on shares of Check Point Software Technologies from $140.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. UBS Group raised their price target on shares of Check Point Software Technologies from $140.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Finally, Raymond James raised shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a report on Monday, December 18th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Check Point Software Technologies has an average rating of “Hold” and an average target price of $154.86.

Check Out Our Latest Stock Analysis on CHKP

Check Point Software Technologies Stock Down 0.7 %

NASDAQ:CHKP opened at $163.18 on Wednesday. The company has a market cap of $19.09 billion, a P/E ratio of 22.92, a P/E/G ratio of 2.69 and a beta of 0.62. Check Point Software Technologies has a fifty-two week low of $117.18 and a fifty-two week high of $166.71. The firm’s 50 day moving average is $153.93 and its two-hundred day moving average is $141.69.

Check Point Software Technologies (NASDAQ:CHKPGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.10. The company had revenue of $663.50 million for the quarter, compared to the consensus estimate of $662.09 million. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.79%. Check Point Software Technologies’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.23 earnings per share. Research analysts forecast that Check Point Software Technologies will post 7.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

Several hedge funds have recently made changes to their positions in CHKP. Private Advisor Group LLC grew its stake in shares of Check Point Software Technologies by 40.4% in the 1st quarter. Private Advisor Group LLC now owns 3,555 shares of the technology company’s stock worth $492,000 after purchasing an additional 1,023 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of Check Point Software Technologies by 7.7% in the 1st quarter. Yousif Capital Management LLC now owns 6,814 shares of the technology company’s stock worth $942,000 after purchasing an additional 485 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Check Point Software Technologies by 12.1% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,715 shares of the technology company’s stock worth $514,000 after acquiring an additional 400 shares in the last quarter. Synovus Financial Corp purchased a new position in shares of Check Point Software Technologies in the first quarter worth approximately $210,000. Finally, Cibc World Market Inc. purchased a new position in shares of Check Point Software Technologies in the first quarter worth approximately $3,511,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

About Check Point Software Technologies

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Check Point Software Technologies (NASDAQ:CHKP)

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