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

Check Point Software Technologies (NASDAQ:CHKP) had its price objective upped by UBS Group from $200.00 to $230.00 in a research report sent to investors on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the technology company’s stock.

CHKP has been the topic of several other research reports. Susquehanna increased their price objective on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a research note on Friday. BMO Capital Markets increased their price target on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Royal Bank of Canada lifted their price objective on Check Point Software Technologies from $187.00 to $215.00 and gave the company a “sector perform” rating in a report on Friday. Citigroup increased their target price on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, Piper Sandler boosted their price target on shares of Check Point Software Technologies from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Nineteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $215.27.

Check Point Software Technologies Trading Down 0.4 %

NASDAQ CHKP opened at $218.02 on Friday. The stock has a market cap of $23.98 billion, a PE ratio of 29.78, a PEG ratio of 3.19 and a beta of 0.63. Check Point Software Technologies has a 12 month low of $145.75 and a 12 month high of $226.02. The company’s 50-day moving average price is $188.67 and its 200-day moving average price is $187.76.

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, 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 business had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. During the same period in the prior year, the firm earned $1.80 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CHKP. FSA Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies during the third quarter worth $27,000. GAMMA Investing LLC lifted its position in Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after acquiring an additional 60 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in Check Point Software Technologies during the 3rd quarter worth about $33,000. Golden State Wealth Management LLC acquired a new position in shares of Check Point Software Technologies in the fourth quarter valued at about $35,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Check Point Software Technologies in the fourth quarter valued at about $35,000. 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.