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

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) had its price target raised by Stifel Nicolaus from $190.00 to $220.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "hold" rating on the technology company's stock. Stifel Nicolaus' price target would indicate a potential upside of 1.19% from the company's current price.

Other equities research analysts also recently issued reports about the company. Susquehanna lifted their target price on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a "positive" rating in a research report on Friday. Morgan Stanley boosted their price objective on Check Point Software Technologies from $183.00 to $200.00 and gave the company an "equal weight" rating in a research report on Friday. Evercore ISI raised 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. The Goldman Sachs Group lowered shares of Check Point Software Technologies from a "buy" rating to a "neutral" rating and boosted their price target for the company from $204.00 to $207.00 in a report on Thursday, January 2nd. Finally, Scotiabank raised their price objective on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the stock a "sector outperform" rating in a report on Friday. Eighteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies presently has a consensus rating of "Hold" and an average target price of $212.71.

Check Point Software Technologies Stock Down 0.7 %

NASDAQ CHKP traded down $1.57 during trading on Friday, hitting $217.42. The company's stock had a trading volume of 390,408 shares, compared to its average volume of 789,320. Check Point Software Technologies has a 52 week low of $145.75 and a 52 week high of $226.02. The firm has a market cap of $23.91 billion, a P/E ratio of 29.70, a price-to-earnings-growth ratio of 3.19 and a beta of 0.63. The firm has a 50 day moving average price of $187.94 and a 200 day moving average price of $187.44.

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 analysts' consensus estimates 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 the consensus estimate of $634.96 million. During the same period in the prior year, the firm earned $1.80 EPS. The business's revenue was up 6.5% on a year-over-year basis. On average, equities analysts expect that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

Several institutional investors have recently modified their holdings of CHKP. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Check Point Software Technologies by 73.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company's stock valued at $211,105,000 after purchasing an additional 464,821 shares during the period. World Investment Advisors LLC bought a new position in shares of Check Point Software Technologies during the third quarter worth $51,922,000. FMR LLC grew its holdings in shares of Check Point Software Technologies by 28.7% in the 3rd quarter. FMR LLC now owns 1,133,175 shares of the technology company's stock valued at $218,488,000 after buying an additional 252,581 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Check Point Software Technologies by 10.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company's stock valued at $354,153,000 after buying an additional 177,104 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in Check Point Software Technologies by 26.9% during the fourth quarter. Boston Trust Walden Corp now owns 487,283 shares of the technology company's stock worth $90,976,000 after acquiring an additional 103,388 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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.

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