Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $142.00

Check Point Software Technologies (NASDAQ:CHKP) had its target price upped by BMO Capital Markets from $140.00 to $142.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 4.21% from the stock’s previous close.

A number of other brokerages also recently weighed in on CHKP. OTR Global downgraded Check Point Software Technologies to a “positive” rating in a research note on Monday, July 10th. Morgan Stanley upgraded Check Point Software Technologies from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $118.00 to $144.00 in a research note on Monday, October 16th. Royal Bank of Canada lifted their target price on Check Point Software Technologies from $132.00 to $138.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 27th. Piper Sandler upgraded shares of Check Point Software Technologies from an “underweight” rating to a “neutral” rating in a research report on Monday. Finally, Barclays lifted their price objective on shares of Check Point Software Technologies from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $137.86.

Check Point Software Technologies Trading Up 1.5 %

Shares of NASDAQ:CHKP opened at $136.26 on Tuesday. The stock has a market cap of $16.45 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 2.40 and a beta of 0.64. The stock’s fifty day simple moving average is $134.53 and its two-hundred day simple moving average is $129.30. Check Point Software Technologies has a 1-year low of $117.18 and a 1-year high of $138.64.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Monday, October 30th. The technology company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.05. Check Point Software Technologies had a net margin of 36.03% and a return on equity of 30.63%. The company had revenue of $596.30 million for the quarter, compared to analyst estimates of $591.85 million. During the same period last year, the firm earned $1.51 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. On average, sell-side analysts forecast that Check Point Software Technologies will post 7.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently modified their holdings of CHKP. Csenge Advisory Group bought a new position in shares of Check Point Software Technologies in the third quarter valued at approximately $203,000. Orion Portfolio Solutions LLC lifted its stake in Check Point Software Technologies by 60.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 14,581 shares of the technology company’s stock worth $1,943,000 after purchasing an additional 5,484 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Check Point Software Technologies by 39.9% in the 3rd quarter. Teacher Retirement System of Texas now owns 33,564 shares of the technology company’s stock valued at $4,473,000 after purchasing an additional 9,564 shares during the period. Allworth Financial LP grew its position in shares of Check Point Software Technologies by 305.5% during the 3rd quarter. Allworth Financial LP now owns 369 shares of the technology company’s stock valued at $49,000 after purchasing an additional 278 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of Check Point Software Technologies by 20.2% in the third quarter. Panagora Asset Management Inc. now owns 14,676 shares of the technology company’s stock worth $1,956,000 after purchasing an additional 2,468 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Check Point Software Technologies Company Profile

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.