Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $250.00 at Scotiabank

Check Point Software Technologies (NASDAQ:CHKP) had its target price upped by Scotiabank from $215.00 to $250.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a sector outperform rating on the technology company’s stock.

CHKP has been the subject of several other reports. Barclays increased their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday. Guggenheim reissued a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 24th. Truist Financial lifted their price target on Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup increased their price objective on Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Finally, BMO Capital Markets boosted their target price on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Nineteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $215.27.

Check Point Software Technologies Trading Down 0.4 %

NASDAQ:CHKP opened at $218.02 on Friday. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $226.02. The stock’s 50 day simple moving average is $188.67 and its 200-day simple moving average is $187.76. The firm has a market cap of $23.98 billion, a P/E ratio of 29.78, a PEG ratio of 3.19 and a beta of 0.63.

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 (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 company had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. During the same period in the previous year, the company posted $1.80 EPS. Check Point Software Technologies’s revenue was up 6.5% compared to the same quarter last year. Research analysts forecast that Check Point Software Technologies will post 7.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies during the 3rd quarter worth about $27,000. Kathleen S. Wright Associates Inc. acquired a new stake in Check Point Software Technologies during the third quarter worth approximately $33,000. GAMMA Investing LLC grew its stake in Check Point Software Technologies by 53.1% in the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after acquiring an additional 60 shares during the period. Golden State Wealth Management LLC acquired a new position in Check Point Software Technologies in the 4th quarter valued at $35,000. Finally, Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies during the 3rd quarter worth $37,000. Institutional investors and hedge funds 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.