Mizuho Issues Positive Forecast for Check Point Software Technologies (NASDAQ:CHKP) Stock Price

Check Point Software Technologies (NASDAQ:CHKP) had its price target upped by Mizuho from $230.00 to $240.00 in a research note issued to investors on Monday morning,Benzinga reports. Mizuho currently has a neutral rating on the technology company’s stock.

CHKP has been the topic of several other research reports. JPMorgan Chase & Co. raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $221.00 to $255.00 in a research note on Wednesday, February 26th. Wedbush reissued an “outperform” rating and set a $240.00 price target on shares of Check Point Software Technologies in a research report on Thursday, April 24th. Compass Point set a $260.00 target price on Check Point Software Technologies in a research report on Thursday, March 27th. Arete Research upgraded Check Point Software Technologies to a “hold” rating in a research note on Monday, February 24th. Finally, Bank of America upgraded Check Point Software Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $230.00 to $260.00 in a research note on Thursday, March 27th. Sixteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Check Point Software Technologies has a consensus rating of “Hold” and an average price target of $232.44.

Check Point Software Technologies Stock Performance

NASDAQ CHKP opened at $221.22 on Monday. Check Point Software Technologies has a 52 week low of $153.88 and a 52 week high of $234.36. The stock has a market capitalization of $24.33 billion, a P/E ratio of 29.61, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66. The stock has a fifty day moving average of $220.12 and a 200-day moving average of $210.89.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.02. The business had revenue of $637.80 million for the quarter, compared to analyst estimates of $635.80 million. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $2.04 EPS. Equities research analysts forecast that Check Point Software Technologies will post 8.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Nemes Rush Group LLC bought a new stake in Check Point Software Technologies in the 4th quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new position in shares of Check Point Software Technologies in the 4th quarter worth approximately $29,000. Strategic Financial Concepts LLC purchased a new position in Check Point Software Technologies in the fourth quarter valued at approximately $35,000. Horizon Investments LLC lifted its stake in Check Point Software Technologies by 116.4% in the first quarter. Horizon Investments LLC now owns 158 shares of the technology company’s stock valued at $36,000 after purchasing an additional 85 shares during the last quarter. Finally, Cromwell Holdings LLC purchased a new stake in shares of Check Point Software Technologies during the first quarter worth $37,000. 98.51% of the stock is owned by institutional investors.

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.