Check Point Software Technologies (NASDAQ:CHKP) Stock Price Expected to Rise, Piper Sandler Analyst Says

Check Point Software Technologies (NASDAQ:CHKP) had its target price increased by analysts at Piper Sandler from $185.00 to $195.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price objective would suggest a potential upside of 7.92% from the company’s current price.

A number of other brokerages have also issued reports on CHKP. Mizuho lifted their target price on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird cut their price objective on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the company from $205.00 to $195.00 in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Finally, Truist Financial increased their price target on Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Seventeen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $199.24.

Check Point Software Technologies Stock Performance

Shares of CHKP stock traded down $0.71 during trading hours on Monday, reaching $180.69. The company had a trading volume of 323,731 shares, compared to its average volume of 515,091. The stock’s fifty day simple moving average is $182.74 and its 200 day simple moving average is $184.31. The company has a market capitalization of $19.87 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25. The business had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.80 earnings per share. As a group, equities analysts expect that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 acquiring an additional 464,821 shares during the period. Marshall Wace LLP bought a new stake in shares of Check Point Software Technologies during the second quarter valued at approximately $47,244,000. World Investment Advisors LLC acquired a new position in shares of Check Point Software Technologies in the third quarter valued at $51,922,000. FMR LLC raised its stake in shares of Check Point Software Technologies by 28.7% in the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after purchasing an additional 252,581 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Check Point Software Technologies by 10.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock worth $354,153,000 after purchasing an additional 177,104 shares during the period. Institutional investors own 98.51% 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.