Check Point Software Technologies (NASDAQ:CHKP) Given New $150.00 Price Target at BMO Capital Markets

Check Point Software Technologies (NASDAQ:CHKPGet Rating) had its target price cut by BMO Capital Markets from $155.00 to $150.00 in a research report report published on Tuesday morning, The Fly reports. They currently have a maintains rating on the technology company’s stock.

A number of other equities analysts have also recently commented on CHKP. Citigroup dropped their price target on shares of Check Point Software Technologies from $122.00 to $120.00 and set a maintains rating for the company in a research note on Friday, July 22nd. Credit Suisse Group boosted their price objective on shares of Check Point Software Technologies from $105.00 to $115.00 in a research report on Thursday, April 28th. Royal Bank of Canada boosted their price objective on shares of Check Point Software Technologies from $139.00 to $145.00 and gave the company a sector perform rating in a research report on Monday, April 25th. Piper Sandler lowered their price objective on shares of Check Point Software Technologies from $130.00 to $120.00 in a research report on Wednesday, July 13th. Finally, Wells Fargo & Company lowered their price objective on shares of Check Point Software Technologies from $144.00 to $130.00 in a research report on Thursday, April 28th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $138.29.

Check Point Software Technologies Trading Down 0.5 %

CHKP stock opened at $118.39 on Tuesday. Check Point Software Technologies has a 12 month low of $107.85 and a 12 month high of $149.62. The company has a 50-day moving average price of $123.88 and a 200 day moving average price of $129.44. The stock has a market cap of $14.85 billion, a PE ratio of 19.54, a P/E/G ratio of 2.75 and a beta of 0.60.

Check Point Software Technologies (NASDAQ:CHKPGet Rating) last released its quarterly earnings results on Monday, August 1st. The technology company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.02. Check Point Software Technologies had a net margin of 36.43% and a return on equity of 25.35%. The firm had revenue of $571.10 million during the quarter, compared to analysts’ expectations of $560.40 million. During the same period in the previous year, the company earned $1.41 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that Check Point Software Technologies will post 6.18 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CHKP. Boston Partners raised its stake in shares of Check Point Software Technologies by 17,268.0% during the 1st quarter. Boston Partners now owns 1,873,144 shares of the technology company’s stock worth $259,013,000 after acquiring an additional 1,862,359 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Check Point Software Technologies by 79.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 900,204 shares of the technology company’s stock worth $109,626,000 after acquiring an additional 397,986 shares in the last quarter. Ardevora Asset Management LLP bought a new position in shares of Check Point Software Technologies during the 1st quarter worth approximately $52,572,000. Nordea Investment Management AB raised its stake in shares of Check Point Software Technologies by 11.7% during the 1st quarter. Nordea Investment Management AB now owns 3,303,458 shares of the technology company’s stock worth $459,379,000 after acquiring an additional 345,565 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd bought a new position in shares of Check Point Software Technologies during the 1st quarter worth approximately $34,635,000. Institutional investors own 91.96% of the company’s stock.

About Check Point Software Technologies

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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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