Brokerages Set Check Point Software Technologies Ltd. (NASDAQ:CHKP) PT at $197.74

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has been assigned a consensus recommendation of “Hold” from the twenty-two ratings firms that are currently covering the firm, MarketBeat.com reports. Fifteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $199.05.

Several analysts recently commented on CHKP shares. Robert W. Baird dropped their target price on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Truist Financial lifted their target price on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays lowered their price target on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Wedbush lifted their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $187.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, October 30th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CHKP. Bank of Montreal Can boosted its stake in Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after buying an additional 20,866 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Check Point Software Technologies in the third quarter valued at about $1,599,000. MML Investors Services LLC increased its position in Check Point Software Technologies by 3.7% during the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock worth $19,957,000 after purchasing an additional 3,655 shares during the last quarter. Milestone Asset Management LLC acquired a new stake in Check Point Software Technologies during the second quarter worth about $1,357,000. Finally, Assenagon Asset Management S.A. raised its stake in Check Point Software Technologies by 110.1% during the second quarter. Assenagon Asset Management S.A. now owns 55,903 shares of the technology company’s stock worth $9,224,000 after purchasing an additional 29,298 shares during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Price Performance

CHKP stock opened at $188.05 on Friday. The company has a market capitalization of $20.68 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63. Check Point Software Technologies has a 12 month low of $145.75 and a 12 month high of $210.70. The firm’s fifty day simple moving average is $186.59 and its 200-day simple moving average is $181.99.

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

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.