Check Point Software Technologies (NASDAQ:CHKP) Hits New 12-Month High at $144.45

Check Point Software Technologies Ltd. (NASDAQ:CHKP)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $144.45 and last traded at $144.45, with a volume of 119769 shares traded. The stock had previously closed at $142.53.

Analyst Ratings Changes

CHKP has been the subject of several analyst reports. Wedbush increased their target price on shares of Check Point Software Technologies from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Robert W. Baird increased their target price on shares of Check Point Software Technologies from $130.00 to $140.00 in a report on Tuesday, July 25th. Piper Sandler upgraded shares of Check Point Software Technologies from an “underweight” rating to a “neutral” rating in a report on Monday, October 30th. BMO Capital Markets raised their price objective on shares of Check Point Software Technologies from $140.00 to $142.00 and gave the stock a “market perform” rating in a report on Tuesday, October 31st. Finally, StockNews.com initiated coverage on shares of Check Point Software Technologies in a report on Thursday, October 5th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $138.29.

Check Point Software Technologies Stock Performance

The firm’s 50 day simple moving average is $136.10 and its 200 day simple moving average is $130.58. The firm has a market capitalization of $17.42 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.54 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Monday, October 30th. The technology company reported $2.07 EPS for the quarter, topping the consensus estimate of $2.02 by $0.05. Check Point Software Technologies had a net margin of 36.03% and a return on equity of 30.88%. The company had revenue of $596.30 million during the quarter, compared to analyst estimates of $591.85 million. During the same quarter in the previous year, the firm earned $1.51 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 7.26 earnings per share for the current year.

Institutional Trading of Check Point Software Technologies

Large investors have recently modified their holdings of the stock. Concord Wealth Partners purchased a new stake in shares of Check Point Software Technologies during the third quarter worth $25,000. CNB Bank purchased a new stake in shares of Check Point Software Technologies during the third quarter worth $27,000. Resurgent Financial Advisors LLC purchased a new position in Check Point Software Technologies in the fourth quarter valued at $28,000. ZRC Wealth Management LLC purchased a new position in Check Point Software Technologies in the first quarter valued at $38,000. Finally, Trifecta Capital Advisors LLC increased its holdings in Check Point Software Technologies by 39.0% in the first quarter. Trifecta Capital Advisors LLC now owns 303 shares of the technology company’s stock valued at $39,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 68.34% 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.