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

Check Point Software Technologies (NASDAQ:CHKP) had its price objective increased by equities research analysts at Susquehanna from $215.00 to $255.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “positive” rating on the technology company’s stock. Susquehanna’s target price suggests a potential upside of 19.27% from the company’s current price.

CHKP has been the topic of a number of other research reports. Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 price objective on shares of Check Point Software Technologies in a report on Monday. Bank of America downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $205.00 to $195.00 in a research report on Wednesday, October 30th. Piper Sandler upped their target price on Check Point Software Technologies from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. BMO Capital Markets lifted their price objective on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group boosted their price target on Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Eighteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $209.86.

Check Point Software Technologies Stock Down 2.4 %

Shares of Check Point Software Technologies stock opened at $213.81 on Friday. The stock has a market cap of $23.51 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 3.19 and a beta of 0.63. The business has a fifty day simple moving average of $187.94 and a 200-day simple moving average of $187.44. Check Point Software Technologies has a 12 month low of $145.75 and a 12 month high of $226.02.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Copperleaf Capital LLC increased its holdings in Check Point Software Technologies by 4.1% during the 4th quarter. Copperleaf Capital LLC now owns 6,724 shares of the technology company’s stock worth $1,255,000 after purchasing an additional 264 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in Check Point Software Technologies during the fourth quarter worth $35,000. Allworth Financial LP boosted its holdings in Check Point Software Technologies by 22.0% during the 4th quarter. Allworth Financial LP now owns 611 shares of the technology company’s stock worth $119,000 after acquiring an additional 110 shares during the last quarter. Hickory Asset Management Inc. purchased a new position in Check Point Software Technologies during the 4th quarter worth $476,000. Finally, Marks Group Wealth Management Inc bought a new stake in shares of Check Point Software Technologies in the 4th quarter worth $497,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

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.