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

Check Point Software Technologies (NASDAQ:CHKP) had its price target upped by stock analysts at Scotiabank from $215.00 to $250.00 in a report released on Friday,Benzinga reports. The firm presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price objective points to a potential upside of 14.16% from the company’s previous close.

CHKP has been the topic of a number of other reports. Guggenheim reissued a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 24th. Bank of America cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Wedbush increased their target price on shares of 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. Royal Bank of Canada restated a “sector perform” rating and set a $187.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased 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 report on Monday, October 28th. Eighteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $207.95.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock opened at $218.99 on Friday. The stock has a market cap of $24.08 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 3.19 and a beta of 0.63. The firm has a fifty day moving average price of $187.94 and a 200 day moving average price of $187.44. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $226.03.

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

Institutional Trading of Check Point Software Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. increased its holdings in shares of Check Point Software Technologies by 10.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock valued at $354,153,000 after acquiring an additional 177,104 shares during the last quarter. FMR LLC boosted its holdings in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Check Point Software Technologies by 73.8% in 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 purchasing an additional 464,821 shares during the last quarter. Boston Trust Walden Corp raised its holdings in Check Point Software Technologies by 26.9% during the fourth quarter. Boston Trust Walden Corp now owns 487,283 shares of the technology company’s stock worth $90,976,000 after purchasing an additional 103,388 shares in the last quarter. Finally, Swedbank AB lifted its position in shares of Check Point Software Technologies by 1.1% during the 4th quarter. Swedbank AB now owns 428,042 shares of the technology company’s stock worth $79,915,000 after buying an additional 4,760 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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.