Morgan Stanley Raises Check Point Software Technologies (NASDAQ:CHKP) Price Target to $200.00

Check Point Software Technologies (NASDAQ:CHKP) had its target price boosted by stock analysts at Morgan Stanley from $183.00 to $200.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target would indicate a potential downside of 8.67% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Mizuho boosted 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 report on Thursday, October 17th. Stifel Nicolaus boosted their price target on Check Point Software Technologies from $182.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Barclays raised their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday. Jefferies Financial Group increased 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, Royal Bank of Canada restated a “sector perform” rating and set a $187.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Eighteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $207.95.

Check Point Software Technologies Price Performance

NASDAQ:CHKP opened at $218.99 on Friday. The firm has a market capitalization of $24.08 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 3.19 and a beta of 0.63. The business has a 50 day simple moving average of $187.94 and a 200-day simple moving average of $187.44. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $226.03.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting the consensus estimate of $2.25. The business had revenue of $635.10 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned $1.80 earnings per share. As a group, analysts expect 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 bought and sold shares of the stock. FSA Wealth Management LLC purchased a new position in shares of Check Point Software Technologies in the 3rd quarter valued at about $27,000. GAMMA Investing LLC raised 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 acquiring an additional 60 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Check Point Software Technologies during the third quarter worth $33,000. Golden State Wealth Management LLC purchased a new position in Check Point Software Technologies in the 4th quarter worth approximately $35,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Check Point Software Technologies in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

About Check Point Software Technologies

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.