Stifel Nicolaus Forecasts Strong Price Appreciation for Check Point Software Technologies (NASDAQ:CHKP) Stock

Check Point Software Technologies (NASDAQ:CHKP) had its price target upped by research analysts at Stifel Nicolaus from $182.00 to $190.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 1.60% from the stock’s previous close.

CHKP has been the subject of several other reports. JPMorgan Chase & Co. increased their price objective on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Bank of America lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $205.00 to $195.00 in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Truist Financial raised their target price on Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wedbush boosted their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Fifteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $199.05.

Check Point Software Technologies Price Performance

CHKP opened at $187.01 on Wednesday. The stock’s 50 day moving average price is $187.00 and its 200 day moving average price is $181.52. The stock has a market cap of $20.57 billion, a P/E ratio of 25.55, a P/E/G ratio of 3.21 and a beta of 0.63. 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 issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting analysts’ consensus estimates of $2.25. The company had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $1.80 earnings per share. Equities analysts anticipate that Check Point Software Technologies will post 7.87 EPS for the current year.

Institutional Trading of Check Point Software Technologies

Several hedge funds and other institutional investors have recently modified their holdings of CHKP. FSA Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies during the third quarter worth approximately $27,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Check Point Software Technologies during the 3rd quarter valued at $33,000. Concord Wealth Partners acquired a new stake in shares of Check Point Software Technologies during the 3rd quarter valued at $37,000. Arrow Financial Corp grew its holdings in shares of Check Point Software Technologies by 62.5% during the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock valued at $50,000 after acquiring an additional 100 shares in the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Check Point Software Technologies in the third quarter worth $60,000. Institutional investors and hedge funds 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.