BMO Capital Markets Increases Check Point Software Technologies (NASDAQ:CHKP) Price Target to $238.00

Check Point Software Technologies (NASDAQ:CHKP - Free Report) had its target price boosted by BMO Capital Markets from $200.00 to $238.00 in a report released on Friday, MarketBeat Ratings reports. BMO Capital Markets currently has a market perform rating on the technology company's stock.

Several other research firms have also commented on CHKP. Wedbush raised their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, October 9th. Mizuho boosted their price target on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their price objective on Check Point Software Technologies from $175.00 to $185.00 and gave the company a "hold" rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on Check Point Software Technologies from $175.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, July 25th. Finally, Barclays increased their price target on Check Point Software Technologies from $175.00 to $192.00 and gave the company an "equal weight" rating in a research report on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Check Point Software Technologies presently has a consensus rating of "Hold" and a consensus target price of $194.67.

Check Point Software Technologies Stock Up 0.9 %

NASDAQ CHKP traded up $1.76 on Friday, reaching $207.16. The stock had a trading volume of 514,001 shares, compared to its average volume of 674,862. The stock has a fifty day moving average price of $194.88 and a two-hundred day moving average price of $173.81. Check Point Software Technologies has a 12-month low of $126.57 and a 12-month high of $210.70. The firm has a market capitalization of $23.39 billion, a price-to-earnings ratio of 28.59, a P/E/G ratio of 3.17 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The firm had revenue of $627.40 million for the quarter, compared to the consensus estimate of $623.19 million. During the same quarter in the previous year, the business earned $1.74 EPS. The company's quarterly revenue was up 6.6% compared to the same quarter last year. Sell-side analysts forecast that Check Point Software Technologies will post 7.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Integrated Advisors Network LLC acquired a new stake in shares of Check Point Software Technologies in the third quarter valued at approximately $210,000. Boston Financial Mangement LLC purchased a new stake in Check Point Software Technologies in the 3rd quarter valued at $231,000. abrdn plc raised its position in Check Point Software Technologies by 40.5% in the 3rd quarter. abrdn plc now owns 18,460 shares of the technology company's stock valued at $3,559,000 after purchasing an additional 5,321 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in Check Point Software Technologies by 1.2% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,402 shares of the technology company's stock worth $1,042,000 after purchasing an additional 66 shares during the period. Finally, Concord Wealth Partners purchased a new position in Check Point Software Technologies during the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 87.62% 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.