BMO Capital Markets Cuts Check Point Software Technologies (NASDAQ:CHKP) Price Target to $150.00

Check Point Software Technologies (NASDAQ:CHKP – Get Rating) had its target price reduced by BMO Capital Markets from $155.00 to $150.00 in a report issued on Tuesday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the technology company’s stock.

Several other equities research analysts have also recently issued reports on CHKP. Royal Bank of Canada lifted their target price on shares of Check Point Software Technologies from $139.00 to $145.00 and gave the stock a sector perform rating in a research note on Monday, April 25th. Jefferies Financial Group lowered their target price on shares of Check Point Software Technologies from $145.00 to $130.00 in a research note on Monday, May 23rd. Wedbush lifted their target price on shares of Check Point Software Technologies from $142.00 to $155.00 and gave the stock an outperform rating in a research note on Thursday, April 14th. Piper Sandler lowered their target price on shares of Check Point Software Technologies from $130.00 to $120.00 in a research note on Wednesday, July 13th. Finally, Credit Suisse Group lifted their target price on shares of Check Point Software Technologies from $105.00 to $115.00 in a research note on Thursday, April 28th. Six research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $138.00.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock opened at $118.83 on Tuesday. The company’s fifty day moving average price is $123.66 and its 200 day moving average price is $129.31. Check Point Software Technologies has a 1 year low of $107.85 and a 1 year high of $149.62. The stock has a market capitalization of $14.90 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.61 and a beta of 0.60.

Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last released its quarterly earnings results on Monday, August 1st. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.02. Check Point Software Technologies had a net margin of 35.15% and a return on equity of 25.49%. The firm had revenue of $571.10 million for the quarter, compared to analysts’ expectations of $560.40 million. During the same quarter last 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 predict that Check Point Software Technologies will post 6.18 EPS for the current year.

Institutional Trading of Check Point Software Technologies

Several institutional investors and hedge funds have recently bought and sold shares of CHKP. Commonwealth Equity Services LLC raised its holdings in Check Point Software Technologies by 20.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 21,105 shares of the technology company’s stock valued at $2,460,000 after buying an additional 3,569 shares during the period. Yousif Capital Management LLC acquired a new position in Check Point Software Technologies in the 4th quarter valued at about $738,000. Qube Research & Technologies Ltd grew its position in Check Point Software Technologies by 688.6% in the 4th quarter. Qube Research & Technologies Ltd now owns 93,081 shares of the technology company’s stock valued at $10,850,000 after acquiring an additional 81,278 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new position in Check Point Software Technologies in the 4th quarter valued at about $356,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Check Point Software Technologies during the fourth quarter worth about $1,685,000. 91.96% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Company Profile

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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.