Check Point Software Technologies (NASDAQ:CHKP) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Check Point Software Technologies Ltd. (NASDAQ:CHKP) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $183.56 and traded as high as $187.79. Check Point Software Technologies shares last traded at $187.26, with a volume of 312,527 shares traded.

Wall Street Analysts Forecast Growth

CHKP has been the subject of several recent research reports. Truist Financial boosted their price objective on 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. BMO Capital Markets upped their price target on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Wedbush raised their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $187.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price objective on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Fifteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $199.05.

Check Point Software Technologies Stock Down 0.3 %

The firm has a market cap of $20.60 billion, a PE ratio of 25.58, a P/E/G ratio of 3.21 and a beta of 0.63. The firm’s fifty day simple moving average is $184.46 and its two-hundred day simple moving average is $183.56.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 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 the consensus estimate of $634.96 million. During the same quarter in the prior year, the firm earned $1.80 EPS. The business’s revenue was up 6.5% on a year-over-year basis. As a group, analysts anticipate that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

A number of institutional investors and hedge funds have recently modified their holdings of CHKP. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Check Point Software Technologies by 73.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after acquiring an additional 464,821 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Check Point Software Technologies by 10.5% during the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after purchasing an additional 391,983 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Check Point Software Technologies during the second quarter valued at $47,244,000. World Investment Advisors LLC bought a new position in shares of Check Point Software Technologies in the third quarter worth about $51,922,000. Finally, FMR LLC increased its stake in Check Point Software Technologies by 28.7% in the 3rd quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after buying an additional 252,581 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

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.