Jefferies Financial Group Forecasts Strong Price Appreciation for Check Point Software Technologies (NASDAQ:CHKP) Stock

Check Point Software Technologies (NASDAQ:CHKP) had its target price increased by research analysts at Jefferies Financial Group from $220.00 to $225.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 19.65% from the stock’s previous close.

Several other research firms also recently issued reports on CHKP. Wedbush upped their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Mizuho raised their price objective on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their target price on Check Point Software Technologies from $182.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday. Truist Financial increased their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $187.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $199.05.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP opened at $188.05 on Thursday. Check Point Software Technologies has a fifty-two week low of $145.75 and a fifty-two week high of $210.70. The company has a market cap of $20.68 billion, a PE ratio of 25.69, a P/E/G ratio of 3.21 and a beta of 0.63. The business has a 50-day simple moving average of $186.59 and a two-hundred day simple moving average of $181.77.

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

Hedge Funds Weigh In On Check Point Software Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. FSA Wealth Management LLC acquired a new position in Check Point Software Technologies during the third quarter worth $27,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Check Point Software Technologies during the third quarter worth about $33,000. Concord Wealth Partners acquired a new position in shares of Check Point Software Technologies during the 3rd quarter worth about $37,000. Arrow Financial Corp lifted its stake in Check Point Software Technologies by 62.5% in the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock valued at $50,000 after buying an additional 100 shares in the last quarter. Finally, FSC Wealth Advisors LLC acquired a new stake in Check Point Software Technologies in the 3rd quarter worth about $60,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

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.