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

Check Point Software Technologies (NASDAQ:CHKP) had its price objective lifted by Citigroup from $185.00 to $190.00 in a research report report published on Friday,Benzinga reports. Citigroup currently has a neutral rating on the technology company’s stock.

Several other research firms have also issued reports on CHKP. Barclays dropped their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. The Goldman Sachs Group downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $204.00 to $207.00 in a research note on Thursday, January 2nd. Piper Sandler raised their target price on Check Point Software Technologies from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Mizuho boosted their price target on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group raised their price objective on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Seventeen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $202.33.

Check Point Software Technologies Trading Up 0.6 %

Shares of CHKP stock opened at $187.87 on Friday. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $210.70. The stock has a market cap of $20.66 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 2.86 and a beta of 0.63. The stock has a 50-day moving average of $183.98 and a 200-day moving average of $185.61.

Check Point Software Technologies (NASDAQ:CHKP) last released its 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. The business had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.80 EPS. Sell-side analysts forecast that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. FSA Wealth Management LLC bought a new position in Check Point Software Technologies during the 3rd quarter valued at $27,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Check Point Software Technologies during the third quarter valued at about $33,000. GAMMA Investing LLC boosted its holdings in Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after purchasing an additional 60 shares during the last quarter. Concord Wealth Partners bought a new stake in Check Point Software Technologies in the 3rd quarter worth about $37,000. Finally, Arrow Financial Corp increased its stake in Check Point Software Technologies by 62.5% in the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock valued at $50,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Company Profile

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.