Check Point Software Technologies Ltd. (NASDAQ:CHKP) Receives $199.24 Consensus Target Price from Brokerages

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has been given an average rating of “Hold” by the twenty-three brokerages that are presently covering the stock, MarketBeat Ratings reports. Sixteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $202.95.

Several brokerages have recently commented on CHKP. JPMorgan Chase & Co. raised their price objective on shares of 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. Mizuho lifted their price target 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. Truist Financial upped their price objective on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. 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. Finally, Barclays decreased their target price on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th.

Check Point Software Technologies Stock Up 0.1 %

CHKP stock opened at $183.40 on Thursday. The firm has a market cap of $20.17 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.21 and a beta of 0.63. The company’s fifty day simple moving average is $183.36 and its 200 day simple moving average is $185.45. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month 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 EPS for the quarter, meeting the consensus estimate of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same quarter in the prior year, the company earned $1.80 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts expect that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of CHKP. FSA Wealth Management LLC purchased a new position in Check Point Software Technologies in the third quarter worth $27,000. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 60 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in Check Point Software Technologies during the third quarter valued at about $33,000. Concord Wealth Partners purchased a new stake in Check Point Software Technologies during the third quarter worth about $37,000. Finally, Arrow Financial Corp raised its position in Check Point Software Technologies by 62.5% in the third quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after acquiring an additional 100 shares during the period. 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.