Check Point Software Technologies (NASDAQ:CHKP) Given New $195.00 Price Target at Piper Sandler

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) had its price target hoisted by Piper Sandler from $185.00 to $195.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the technology company's stock. Piper Sandler's price objective would suggest a potential upside of 8.41% from the company's current price.

Several other equities research analysts also recently weighed in on CHKP. BMO Capital Markets raised their price target on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the company a "market perform" rating in a research report on Friday, October 25th. Royal Bank of Canada reissued a "sector perform" rating and issued a $187.00 target price on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Robert W. Baird decreased their price target on Check Point Software Technologies from $210.00 to $205.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Wedbush increased their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday, October 9th. Finally, Evercore ISI boosted their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 30th. Seventeen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Check Point Software Technologies has a consensus rating of "Hold" and a consensus price target of $199.24.

Check Point Software Technologies Stock Performance

Shares of Check Point Software Technologies stock traded down $1.52 during midday trading on Monday, hitting $179.88. The company had a trading volume of 1,129,129 shares, compared to its average volume of 790,310. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $210.70. The stock has a market capitalization of $19.78 billion, a P/E ratio of 24.57, a P/E/G ratio of 3.21 and a beta of 0.63. The company has a 50 day moving average of $182.18 and a 200 day moving average of $184.46.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting the consensus estimate of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The firm had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. During the same period last year, the company earned $1.80 earnings per share. The company's revenue was up 6.5% on a year-over-year basis. Equities research analysts forecast that Check Point Software Technologies will post 7.87 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CHKP. Principal Financial Group Inc. lifted its position in Check Point Software Technologies by 16.9% in the second quarter. Principal Financial Group Inc. now owns 31,355 shares of the technology company's stock worth $5,174,000 after buying an additional 4,541 shares during the last quarter. Rhumbline Advisers grew its holdings in Check Point Software Technologies by 5.5% during the 2nd quarter. Rhumbline Advisers now owns 46,134 shares of the technology company's stock valued at $7,612,000 after purchasing an additional 2,404 shares during the last quarter. TD Asset Management Inc raised its position in Check Point Software Technologies by 3.9% in the 2nd quarter. TD Asset Management Inc now owns 39,465 shares of the technology company's stock worth $6,512,000 after purchasing an additional 1,470 shares during the period. Caprock Group LLC lifted its stake in Check Point Software Technologies by 190.1% in the second quarter. Caprock Group LLC now owns 4,087 shares of the technology company's stock worth $675,000 after purchasing an additional 2,678 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its position in shares of Check Point Software Technologies by 39.9% during the second quarter. Wedbush Securities Inc. now owns 4,255 shares of the technology company's stock valued at $702,000 after buying an additional 1,214 shares during the period. 98.51% of the stock is owned by hedge funds and other 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.