Check Point Software Technologies (NASDAQ:CHKP) Given New $215.00 Price Target at Scotiabank

Check Point Software Technologies (NASDAQ:CHKP) had its target price raised by Scotiabank from $200.00 to $215.00 in a report published on Tuesday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the technology company’s stock.

CHKP has been the subject of several other reports. BMO Capital Markets raised their target price on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Citigroup boosted their price objective on Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Piper Sandler increased their target price on Check Point Software Technologies from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. The Goldman Sachs Group lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and boosted their price target for the company from $204.00 to $207.00 in a research note on Thursday, January 2nd. Finally, Evercore ISI upped their price objective 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. Seventeen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $203.05.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock opened at $192.96 on Tuesday. The stock’s 50-day moving average is $184.17 and its 200 day moving average is $185.99. Check Point Software Technologies has a one year low of $145.75 and a one year high of $210.70. The firm has a market cap of $21.22 billion, a price-to-earnings ratio of 26.36, 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, hitting analysts’ consensus estimates of $2.25. The firm had revenue of $635.10 million for 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 company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.80 EPS. On average, sell-side 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new stake in shares of Check Point Software Technologies in the third quarter valued at approximately $27,000. Kathleen S. Wright Associates Inc. bought a new stake in Check Point Software Technologies during the 3rd quarter valued at $33,000. GAMMA Investing LLC lifted its position in shares of Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after acquiring an additional 60 shares in the last quarter. Concord Wealth Partners bought a new position in shares of Check Point Software Technologies in the third quarter worth $37,000. Finally, Exchange Traded Concepts LLC grew its position in shares of Check Point Software Technologies by 142.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock valued at $44,000 after purchasing an additional 137 shares in the last quarter. 98.51% of the stock is currently 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.