Jefferies Financial Group Issues Positive Forecast for Check Point Software Technologies (NASDAQ:CHKP) Stock Price

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) had its target price upped by analysts at Jefferies Financial Group from $220.00 to $225.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Jefferies Financial Group's price target indicates a potential upside of 20.31% from the stock's current price.

CHKP has been the subject of several other research reports. Bank of America downgraded shares of Check Point Software Technologies from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Robert W. Baird reduced their price objective on shares of 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. JPMorgan Chase & Co. increased their target price on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a "neutral" rating in a research report on Monday, October 28th. Truist Financial lifted their price target on Check Point Software Technologies from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $187.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Check Point Software Technologies presently has an average rating of "Hold" and an average price target of $199.05.

Check Point Software Technologies Stock Up 3.3 %

CHKP stock traded up $5.92 during mid-day trading on Thursday, reaching $187.01. 883,862 shares of the company traded hands, compared to its average volume of 687,166. Check Point Software Technologies has a fifty-two week low of $145.75 and a fifty-two week high of $210.70. The firm's 50 day moving average price is $187.44 and its 200 day moving average price is $181.48. The stock has a market cap of $20.57 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 3.21 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. During the same quarter in the prior year, the business posted $1.80 EPS. The business's revenue was up 6.5% compared to the same quarter last year. On average, analysts anticipate that Check Point Software Technologies will post 7.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CHKP. Bank of Montreal Can boosted its position in shares of Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company's stock valued at $16,532,000 after purchasing an additional 20,866 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Check Point Software Technologies during the third quarter valued at $1,599,000. MML Investors Services LLC grew its position in shares of Check Point Software Technologies by 3.7% in the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company's stock worth $19,957,000 after buying an additional 3,655 shares during the period. Martin Investment Management LLC increased its stake in shares of Check Point Software Technologies by 2.0% in the 3rd quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company's stock worth $31,497,000 after acquiring an additional 3,225 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in Check Point Software Technologies by 8.9% during the 3rd quarter. New York State Common Retirement Fund now owns 298,547 shares of the technology company's stock valued at $57,563,000 after acquiring an additional 24,421 shares during the period. Hedge funds and other institutional investors 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.