Stifel Nicolaus Forecasts Strong Price Appreciation for Check Point Software Technologies (NASDAQ:CHKP) Stock

Check Point Software Technologies (NASDAQ:CHKP) had its target price hoisted by Stifel Nicolaus from $182.00 to $190.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the technology company’s stock.

A number of other research firms also recently commented on CHKP. Bank of America downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $205.00 to $195.00 in a report on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and set a $187.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Robert W. Baird cut their price objective on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Truist Financial boosted 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 research report on Wednesday, October 23rd. Finally, Mizuho increased their price target on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Fifteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $199.05.

Check Point Software Technologies Trading Down 3.5 %

NASDAQ:CHKP opened at $181.09 on Wednesday. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $210.70. The company has a market cap of $19.92 billion, a PE ratio of 24.74, a P/E/G ratio of 3.21 and a beta of 0.63. The company’s 50 day moving average is $187.44 and its two-hundred day moving average is $181.48.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting 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 firm had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same period in the previous year, the company earned $1.80 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts expect that Check Point Software Technologies will post 7.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Large investors have recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies in the third quarter worth approximately $27,000. Kathleen S. Wright Associates Inc. purchased a new position in Check Point Software Technologies in the 3rd quarter valued at $33,000. Concord Wealth Partners acquired a new stake in Check Point Software Technologies during the 3rd quarter worth $37,000. Arrow Financial Corp grew its holdings in shares of Check Point Software Technologies by 62.5% during the third quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after buying an additional 100 shares in the last quarter. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of Check Point Software Technologies in the third quarter valued at about $60,000. 98.51% of the stock is currently owned by hedge funds and other 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.