Truist Financial Raises Check Point Software Technologies (NASDAQ:CHKP) Price Target to $220.00

Check Point Software Technologies (NASDAQ:CHKP) had its price objective raised by Truist Financial from $200.00 to $220.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Susquehanna raised their price objective on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a research report on Thursday, July 25th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Thursday, July 25th. Robert W. Baird boosted their price objective on shares of Check Point Software Technologies from $200.00 to $210.00 and gave the stock a “neutral” rating in a research report on Tuesday. Barclays increased their price objective on Check Point Software Technologies from $175.00 to $192.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $194.67.

Check Point Software Technologies Price Performance

CHKP stock opened at $207.16 on Wednesday. The business has a fifty day moving average price of $194.88 and a 200 day moving average price of $173.81. Check Point Software Technologies has a fifty-two week low of $126.57 and a fifty-two week high of $210.70. The stock has a market capitalization of $23.39 billion, a price-to-earnings ratio of 28.77, a P/E/G ratio of 3.17 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The company had revenue of $627.40 million for the quarter, compared to analysts’ expectations of $623.19 million. During the same quarter in the prior year, the business earned $1.74 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts expect that Check Point Software Technologies will post 7.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Several large investors have recently bought and sold shares of the company. Bleakley Financial Group LLC boosted its position in shares of Check Point Software Technologies by 3.3% during the third quarter. Bleakley Financial Group LLC now owns 1,797 shares of the technology company’s stock worth $346,000 after purchasing an additional 57 shares in the last quarter. Brighton Jones LLC raised its stake in Check Point Software Technologies by 5.2% during the 3rd quarter. Brighton Jones LLC now owns 1,337 shares of the technology company’s stock worth $258,000 after buying an additional 66 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its holdings in Check Point Software Technologies by 1.2% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,402 shares of the technology company’s stock worth $1,042,000 after acquiring an additional 66 shares in the last quarter. Heritage Family Offices LLP grew its stake in Check Point Software Technologies by 1.6% in the third quarter. Heritage Family Offices LLP now owns 4,884 shares of the technology company’s stock valued at $942,000 after acquiring an additional 77 shares during the period. Finally, Argonautica Private Wealth Management Inc. increased its holdings in shares of Check Point Software Technologies by 1.3% in the second quarter. Argonautica Private Wealth Management Inc. now owns 5,928 shares of the technology company’s stock worth $978,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

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.