Piper Sandler Issues Positive Forecast for Check Point Software Technologies (NASDAQ:CHKP) Stock Price

Check Point Software Technologies (NASDAQ:CHKP) had its price objective boosted by Piper Sandler from $185.00 to $195.00 in a research note issued to investors on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the technology company’s stock.

CHKP has been the subject of a number of other reports. Robert W. Baird reduced their target price on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Bank of America lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Wedbush lifted 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. Jefferies Financial Group upped their price target on Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised their price objective on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Seventeen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $199.24.

Check Point Software Technologies Stock Performance

NASDAQ CHKP opened at $179.88 on Monday. The company has a market cap of $19.78 billion, a PE ratio of 24.57, a P/E/G ratio of 3.21 and a beta of 0.63. The firm’s 50 day moving average price is $182.18 and its 200-day moving average price is $184.46. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last announced its 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. The business 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 business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.80 EPS. On average, analysts forecast that Check Point Software Technologies will post 7.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its holdings in shares of Check Point Software Technologies by 32.2% in the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock valued at $16,532,000 after buying an additional 20,866 shares during the period. CWA Asset Management Group LLC purchased a new position in Check Point Software Technologies during the third quarter valued at approximately $1,599,000. MML Investors Services LLC grew its position in Check Point Software Technologies by 3.7% during the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after buying an additional 3,655 shares during the period. Martin Investment Management LLC raised its holdings in Check Point Software Technologies by 2.0% in the 3rd quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock worth $31,497,000 after purchasing an additional 3,225 shares during the period. Finally, Chevy Chase Trust Holdings LLC increased its holdings in Check Point Software Technologies by 69.6% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company’s stock worth $4,502,000 after acquiring an additional 9,580 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other 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.