Check Point Software Technologies (NASDAQ:CHKP) Given New $200.00 Price Target at Scotiabank

Check Point Software Technologies (NASDAQ:CHKP) had its target price increased by Scotiabank from $180.00 to $200.00 in a report published on Thursday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the technology company’s stock.

A number of other research firms have also commented on CHKP. Barclays lifted their price objective on Check Point Software Technologies from $175.00 to $192.00 and gave the stock an equal weight rating in a research note on Thursday. Mizuho restated a neutral rating and issued a $160.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. Wedbush raised their target price on Check Point Software Technologies from $185.00 to $200.00 and gave the stock an outperform rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a hold rating in a research report on Thursday. Finally, Needham & Company LLC reiterated a hold rating on shares of Check Point Software Technologies in a research report on Thursday. Fifteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $183.68.

Check Point Software Technologies Price Performance

CHKP opened at $182.74 on Thursday. Check Point Software Technologies has a fifty-two week low of $125.68 and a fifty-two week high of $184.67. The firm has a market capitalization of $20.63 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 2.89 and a beta of 0.62. The company’s 50 day moving average price is $161.86 and its two-hundred day moving average price is $160.31.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.01. The company had revenue of $627.40 million for the quarter, compared to analysts’ expectations of $623.19 million. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. Check Point Software Technologies’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.74 earnings per share. As a group, equities research analysts predict that Check Point Software Technologies will post 7.8 EPS for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

A number of hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Check Point Software Technologies in the 2nd quarter worth approximately $30,000. Concord Wealth Partners bought a new position in shares of Check Point Software Technologies during the 1st quarter valued at approximately $31,000. Richardson Financial Services Inc. purchased a new stake in shares of Check Point Software Technologies during the 4th quarter worth approximately $33,000. Y.D. More Investments Ltd raised its holdings in shares of Check Point Software Technologies by 37.0% in the 4th quarter. Y.D. More Investments Ltd now owns 500 shares of the technology company’s stock worth $76,000 after purchasing an additional 135 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Check Point Software Technologies in the fourth quarter valued at approximately $92,000. 87.62% of the stock is owned by hedge funds and other 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.