Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $225.00

Check Point Software Technologies (NASDAQ:CHKP) had its target price hoisted by research analysts at Jefferies Financial Group from $210.00 to $225.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price target points to a potential upside of 16.01% from the company’s current price.

A number of other research analysts have also weighed in on CHKP. Truist Financial reissued a “buy” rating and set a $200.00 price target (up from $175.00) on shares of Check Point Software Technologies in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their target price on shares of Check Point Software Technologies from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Scotiabank upped their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a report on Thursday, July 25th. Wedbush lifted their price target on Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada upped their price objective on Check Point Software Technologies from $165.00 to $187.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Sixteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $184.47.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP traded down $1.52 during midday trading on Tuesday, hitting $193.95. 92,366 shares of the company’s stock were exchanged, compared to its average volume of 679,117. The company has a market cap of $21.90 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 2.96 and a beta of 0.62. Check Point Software Technologies has a 12 month low of $126.57 and a 12 month high of $196.56. The stock has a 50 day moving average price of $184.95 and a 200-day moving average price of $168.13.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $623.19 million. During the same quarter last year, the company earned $1.74 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts anticipate that Check Point Software Technologies will post 7.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Several hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Check Point Software Technologies by 69.3% in the fourth quarter. Principal Financial Group Inc. now owns 27,026 shares of the technology company’s stock worth $4,129,000 after purchasing an additional 11,064 shares during the period. Norges Bank purchased a new stake in shares of Check Point Software Technologies in the 4th quarter worth approximately $29,801,000. D.A. Davidson & CO. increased its position in Check Point Software Technologies by 5.8% during the 4th quarter. D.A. Davidson & CO. now owns 2,516 shares of the technology company’s stock valued at $384,000 after buying an additional 139 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Check Point Software Technologies by 13.4% in the fourth quarter. Corient Private Wealth LLC now owns 28,460 shares of the technology company’s stock worth $4,348,000 after acquiring an additional 3,364 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Check Point Software Technologies by 0.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 13,542 shares of the technology company’s stock worth $2,069,000 after acquiring an additional 121 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

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.