BMO Capital Markets Increases Check Point Software Technologies (NASDAQ:CHKP) Price Target to $238.00

Check Point Software Technologies (NASDAQ:CHKP) had its price target increased by equities researchers at BMO Capital Markets from $200.00 to $238.00 in a note issued to investors on Friday, Marketbeat.com reports. The firm presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 14.89% from the stock’s current price.

CHKP has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price objective on Check Point Software Technologies from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Robert W. Baird upped their price target on shares of Check Point Software Technologies from $200.00 to $210.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Truist Financial raised their price objective on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $194.67.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock opened at $207.16 on Friday. Check Point Software Technologies has a 1 year low of $126.57 and a 1 year high of $210.70. The firm has a market cap of $23.39 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 3.17 and a beta of 0.62. The company has a 50-day moving average of $195.32 and a 200 day moving average of $174.18.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The business had revenue of $627.40 million during the quarter, compared to the consensus estimate of $623.19 million. During the same quarter last year, the firm earned $1.74 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts anticipate that Check Point Software Technologies will post 7.83 EPS for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

Several institutional investors have recently made changes to their positions in the business. Tidal Investments LLC purchased a new position in shares of Check Point Software Technologies during the 1st quarter worth $6,558,000. Quantbot Technologies LP purchased a new position in Check Point Software Technologies during the first quarter valued at $1,095,000. Allspring Global Investments Holdings LLC grew its holdings in Check Point Software Technologies by 8.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 97,434 shares of the technology company’s stock valued at $15,980,000 after purchasing an additional 7,357 shares during the period. M&G Plc increased its position in Check Point Software Technologies by 10.0% in the second quarter. M&G Plc now owns 108,449 shares of the technology company’s stock worth $17,894,000 after buying an additional 9,830 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Check Point Software Technologies in the first quarter worth about $2,928,000. Institutional investors own 87.62% 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.