Royal Bank of Canada Increases Check Point Software Technologies (NASDAQ:CHKP) Price Target to $145.00

Check Point Software Technologies (NASDAQ:CHKPGet Rating) had its target price boosted by investment analysts at Royal Bank of Canada from $139.00 to $145.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 5.63% from the stock’s current price.

Several other equities analysts have also issued reports on CHKP. Summit Insights initiated coverage on shares of Check Point Software Technologies in a report on Thursday, March 31st. They issued a “buy” rating and a $160.00 price target for the company. Wedbush boosted their price target on shares of Check Point Software Technologies from $142.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, April 14th. Jefferies Financial Group initiated coverage on shares of Check Point Software Technologies in a report on Monday, April 18th. They issued a “hold” rating and a $155.00 price target for the company. Raymond James upped their target price on shares of Check Point Software Technologies from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 4th. Finally, Credit Suisse Group upped their target price on shares of Check Point Software Technologies from $100.00 to $105.00 and gave the stock an “underperform” rating in a research note on Friday, February 4th. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and an average price target of $139.41.

CHKP stock opened at $137.27 on Monday. Check Point Software Technologies has a twelve month low of $107.85 and a twelve month high of $149.62. The company has a market cap of $17.72 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 3.00 and a beta of 0.62. The business’s 50-day simple moving average is $139.22 and its 200 day simple moving average is $125.56.

Check Point Software Technologies (NASDAQ:CHKPGet Rating) last announced its quarterly earnings results on Thursday, February 3rd. The technology company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. Check Point Software Technologies had a net margin of 37.64% and a return on equity of 25.39%. The firm had revenue of $599.10 million during the quarter, compared to analysts’ expectations of $586.42 million. During the same quarter last year, the company earned $1.98 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts predict that Check Point Software Technologies will post 6.4 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of CHKP. D Orazio & Associates Inc. bought a new stake in Check Point Software Technologies during the 3rd quarter worth about $25,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in Check Point Software Technologies by 55.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 249 shares of the technology company’s stock worth $29,000 after buying an additional 89 shares in the last quarter. AdvisorNet Financial Inc lifted its position in Check Point Software Technologies by 107.0% during the 1st quarter. AdvisorNet Financial Inc now owns 236 shares of the technology company’s stock worth $33,000 after buying an additional 122 shares in the last quarter. Sageworth Trust Co of South Dakota bought a new stake in Check Point Software Technologies during the 4th quarter worth about $49,000. Finally, Spire Wealth Management raised its holdings in shares of Check Point Software Technologies by 85.3% in the 4th quarter. Spire Wealth Management now owns 428 shares of the technology company’s stock valued at $50,000 after purchasing an additional 197 shares during the period. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Company Profile (Get Rating)

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.

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