Check Point Software Technologies (NASDAQ:CHKP) Reaches New 52-Week High at $187.23

Check Point Software Technologies Ltd. (NASDAQ:CHKP)’s stock price hit a new 52-week high on Monday . The company traded as high as $187.23 and last traded at $186.63, with a volume of 45237 shares traded. The stock had previously closed at $185.41.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial reiterated a “buy” rating and set a $200.00 price target (up previously from $175.00) on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Royal Bank of Canada raised their target price on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Stifel Nicolaus reduced their target price on shares of Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating for the company in a research note on Friday, April 26th. KeyCorp upgraded shares of Check Point Software Technologies to a “hold” rating in a research note on Tuesday, May 14th. Finally, Robert W. Baird raised their target price on shares of Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Hold” and a consensus target price of $183.68.

Check Point Software Technologies Trading Up 0.9 %

The business has a 50 day moving average of $170.60 and a 200-day moving average of $162.73. The stock has a market cap of $21.12 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 2.84 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $627.40 million for the quarter, compared to analyst estimates of $623.19 million. During the same quarter in the prior year, the company posted $1.74 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that Check Point Software Technologies Ltd. will post 7.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. acquired a new stake in Check Point Software Technologies in the 2nd quarter valued at $250,000. NewEdge Advisors LLC increased its holdings in Check Point Software Technologies by 145.8% in the 2nd quarter. NewEdge Advisors LLC now owns 12,832 shares of the technology company’s stock valued at $2,117,000 after purchasing an additional 7,611 shares in the last quarter. Creative Planning grew its stake in shares of Check Point Software Technologies by 12.9% during the second quarter. Creative Planning now owns 18,510 shares of the technology company’s stock valued at $3,054,000 after acquiring an additional 2,122 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its stake in shares of Check Point Software Technologies by 195.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 9,735 shares of the technology company’s stock valued at $1,606,000 after acquiring an additional 6,435 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Check Point Software Technologies by 20.6% during the second quarter. Millennium Management LLC now owns 44,101 shares of the technology company’s stock valued at $7,277,000 after acquiring an additional 7,523 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

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.