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

Check Point Software Technologies (NASDAQ:CHKP) had its target price increased by Scotiabank from $200.00 to $215.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price objective suggests a potential upside of 11.00% from the stock’s current price.

CHKP has been the subject of several other reports. Jefferies Financial Group upped their price target on shares of 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. Barclays dropped their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. increased their target price on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Evercore ISI increased their target price on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus increased their target price on shares of Check Point Software Technologies from $182.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Seventeen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $203.05.

Check Point Software Technologies Stock Performance

CHKP traded up $5.82 during trading on Tuesday, reaching $193.69. The stock had a trading volume of 419,303 shares, compared to its average volume of 695,376. The business has a 50-day moving average of $184.17 and a 200-day moving average of $185.99. Check Point Software Technologies has a one year low of $145.75 and a one year high of $210.70. The stock has a market cap of $21.30 billion, a PE ratio of 26.48, a PEG ratio of 2.95 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $634.96 million. During the same period in the prior year, the business posted $1.80 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. Equities research analysts forecast that Check Point Software Technologies will post 7.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Exchange Traded Concepts LLC raised its position in Check Point Software Technologies by 142.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock worth $44,000 after buying an additional 137 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Check Point Software Technologies by 83.1% in the fourth quarter. Avior Wealth Management LLC now owns 705 shares of the technology company’s stock worth $132,000 after acquiring an additional 320 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Check Point Software Technologies by 0.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,417 shares of the technology company’s stock valued at $4,185,000 after purchasing an additional 110 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Check Point Software Technologies by 12.9% during the fourth quarter. SG Americas Securities LLC now owns 69,242 shares of the technology company’s stock valued at $12,927,000 after purchasing an additional 7,927 shares during the last quarter. Finally, Davis Capital Management raised its holdings in shares of Check Point Software Technologies by 141.0% during the fourth quarter. Davis Capital Management now owns 3,974 shares of the technology company’s stock valued at $742,000 after purchasing an additional 2,325 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

Check Point Software Technologies Company Profile

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.