Check Point Software Technologies (NASDAQ:CHKP) Sets New 1-Year High After Analyst Upgrade

Check Point Software Technologies Ltd. (NASDAQ:CHKP)’s share price reached a new 52-week high during trading on Thursday after UBS Group raised their price target on the stock from $200.00 to $230.00. UBS Group currently has a neutral rating on the stock. Check Point Software Technologies traded as high as $213.00 and last traded at $217.58, with a volume of 4353 shares changing hands. The stock had previously closed at $203.90.

Other research analysts also recently issued reports about the stock. Mizuho increased their price objective on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird lowered their price objective on 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. Evercore ISI lifted their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Check Point Software Technologies from $187.00 to $215.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Guggenheim restated a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday. Nineteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $215.27.

Institutional Trading of Check Point Software Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of CHKP. FSA Wealth Management LLC acquired a new position in Check Point Software Technologies in the third quarter worth approximately $27,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Check Point Software Technologies during the third quarter worth $33,000. GAMMA Investing LLC lifted its holdings 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 valued at $32,000 after purchasing an additional 60 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at $35,000. Finally, Concord Wealth Partners purchased a new position in Check Point Software Technologies in the 3rd quarter worth about $37,000. Institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Trading Down 0.4 %

The company has a fifty day simple moving average of $187.94 and a 200-day simple moving average of $187.44. The stock has a market cap of $23.98 billion, a price-to-earnings ratio of 29.78, a P/E/G ratio of 3.19 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results 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 firm’s quarterly 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 year.

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.