Stifel Nicolaus Issues Positive Forecast for Check Point Software Technologies (NASDAQ:CHKP) Stock Price

Check Point Software Technologies (NASDAQ:CHKP) had its price target boosted by investment analysts at Stifel Nicolaus from $190.00 to $220.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 1.19% from the company’s current price.

Other analysts have also recently issued reports about the company. Jefferies Financial Group raised their price objective on Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $187.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Truist Financial reissued a “buy” rating and issued a $250.00 target price (up from $220.00) on shares of Check Point Software Technologies in a report on Friday. Wedbush upped their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Finally, Barclays increased their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday. Eighteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Check Point Software Technologies presently has a consensus rating of “Hold” and a consensus price target of $212.71.

Check Point Software Technologies Price Performance

Shares of CHKP traded down $1.57 during mid-day trading on Friday, hitting $217.42. 390,408 shares of the company’s stock were exchanged, compared to its average volume of 789,320. Check Point Software Technologies has a 52 week low of $145.75 and a 52 week high of $226.02. The company has a 50-day simple moving average of $187.94 and a 200 day simple moving average of $187.44. The company has a market cap of $23.91 billion, a PE ratio of 29.70, a P/E/G ratio of 3.19 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last issued 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 firm had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 earnings per share. On average, analysts anticipate that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

A number of large investors have recently modified their holdings of the company. FSA Wealth Management LLC bought a new position in Check Point Software Technologies during the 3rd quarter valued at $27,000. GAMMA Investing LLC raised its holdings in shares of Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after purchasing an additional 60 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of Check Point Software Technologies during the third quarter valued at about $33,000. Golden State Wealth Management LLC purchased a new position in Check Point Software Technologies during the fourth quarter worth about $35,000. Finally, Strategic Financial Concepts LLC bought a new stake in Check Point Software Technologies in the 4th quarter worth about $35,000. 98.51% of the stock is currently owned by institutional investors.

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.