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

Check Point Software Technologies (NASDAQ:CHKP) had its price objective lifted by research analysts at Scotiabank from $215.00 to $250.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price target would suggest a potential upside of 14.16% from the company’s current price.

Several other equities research analysts also recently weighed in on CHKP. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research report on Friday. Guggenheim restated a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 24th. Mizuho upped their price objective on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Truist Financial raised their target price on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Eighteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $207.95.

Check Point Software Technologies Stock Up 7.4 %

Shares of CHKP stock opened at $218.99 on Friday. The firm has a market capitalization of $24.08 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 3.19 and a beta of 0.63. The stock has a fifty day moving average of $187.94 and a 200 day moving average of $187.44. Check Point Software Technologies has a 52 week low of $145.75 and a 52 week high of $226.03.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting the consensus estimate of $2.25. The business had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. Check Point Software Technologies’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.80 earnings per share. Equities research analysts anticipate that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Institutional Trading of Check Point Software Technologies

Hedge funds have recently added to or reduced their stakes in the business. Copperleaf Capital LLC boosted its position in Check Point Software Technologies by 4.1% during the fourth quarter. Copperleaf Capital LLC now owns 6,724 shares of the technology company’s stock valued at $1,255,000 after purchasing an additional 264 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Check Point Software Technologies in the 4th quarter valued at about $35,000. Allworth Financial LP raised its stake in shares of Check Point Software Technologies by 22.0% during the 4th quarter. Allworth Financial LP now owns 611 shares of the technology company’s stock worth $119,000 after acquiring an additional 110 shares in the last quarter. Hickory Asset Management Inc. purchased a new stake in Check Point Software Technologies during the fourth quarter valued at approximately $476,000. Finally, Marks Group Wealth Management Inc purchased a new position in Check Point Software Technologies in the fourth quarter worth $497,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

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.