Check Point Software Technologies Ltd. (NASDAQ:CHKP) Receives $199.24 Consensus Price Target from Analysts

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has received a consensus recommendation of “Hold” from the twenty-three ratings firms that are currently covering the firm, MarketBeat.com reports. Sixteen investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $202.95.

A number of brokerages recently issued reports on CHKP. Truist Financial raised their target price on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $187.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Cantor Fitzgerald initiated coverage on shares of Check Point Software Technologies in a report on Thursday. They set a “neutral” rating and a $200.00 target price for the company. Finally, Jefferies Financial Group boosted their price objective on Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, December 19th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CHKP. Principal Financial Group Inc. boosted its holdings in Check Point Software Technologies by 16.9% during the 2nd quarter. Principal Financial Group Inc. now owns 31,355 shares of the technology company’s stock valued at $5,174,000 after acquiring an additional 4,541 shares during the period. Rhumbline Advisers boosted its holdings in Check Point Software Technologies by 5.5% in the second quarter. Rhumbline Advisers now owns 46,134 shares of the technology company’s stock valued at $7,612,000 after purchasing an additional 2,404 shares during the period. TD Asset Management Inc raised its holdings in Check Point Software Technologies by 3.9% in the second quarter. TD Asset Management Inc now owns 39,465 shares of the technology company’s stock valued at $6,512,000 after acquiring an additional 1,470 shares in the last quarter. Caprock Group LLC boosted its position in shares of Check Point Software Technologies by 190.1% during the 2nd quarter. Caprock Group LLC now owns 4,087 shares of the technology company’s stock worth $675,000 after acquiring an additional 2,678 shares in the last quarter. Finally, Wedbush Securities Inc. increased its holdings in shares of Check Point Software Technologies by 39.9% in the 2nd quarter. Wedbush Securities Inc. now owns 4,255 shares of the technology company’s stock valued at $702,000 after acquiring an additional 1,214 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock opened at $182.00 on Thursday. The stock has a market cap of $20.02 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63. The firm has a 50-day moving average of $182.87 and a two-hundred day moving average of $184.98. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $210.70.

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

Check Point Software Technologies Company Profile

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.