Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $140.00

Check Point Software Technologies (NASDAQ:CHKP) had its price objective boosted by Royal Bank Of Canada from $135.00 to $140.00 in a research note released on Tuesday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the technology company’s stock.

Several other research firms have also issued reports on CHKP. Weiss Ratings raised Check Point Software Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. BTIG Research reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a research note on Tuesday. Yorkville Ives initiated coverage on Check Point Software Technologies in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $150.00 price objective on the stock. Roth Capital set a $105.00 price objective on Check Point Software Technologies in a research report on Friday, July 31st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 price objective on shares of Check Point Software Technologies in a research note on Tuesday. Ten research analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $151.32.

Check Point Software Technologies Trading Up 0.5%

Shares of CHKP stock opened at $148.18 on Tuesday. Check Point Software Technologies has a 1 year low of $112.23 and a 1 year high of $206.43. The firm has a fifty day moving average price of $138.58 and a 200-day moving average price of $140.90. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.60 and a quick ratio of 1.67. The company has a market cap of $15.13 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 4.22 and a beta of 0.43.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Monday, November 2nd. The technology company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.48 by $0.01. Check Point Software Technologies had a return on equity of 34.08% and a net margin of 31.74%. The firm had revenue of $669.80 million during the quarter, compared to analyst estimates of $672.06 million. During the same period in the prior year, the business posted $3.94 EPS. Check Point Software Technologies’s revenue was down 1.1% on a year-over-year basis. As a group, equities analysts predict that Check Point Software Technologies will post 8.45 earnings per share for the current year.

Insider Buying and Selling at Check Point Software Technologies

In related news, insider Nataly Kremer sold 3,185 shares of the company’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $150.08, for a total value of $478,004.80. Following the completion of the transaction, the insider owned 19,347 shares of the company’s stock, valued at approximately $2,903,597.76. This represents a 14.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Check Point Software Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Assetmark Inc. increased its holdings in Check Point Software Technologies by 5.1% in the 1st quarter. Assetmark Inc. now owns 223,868 shares of the technology company’s stock valued at $31,980,000 after acquiring an additional 10,903 shares during the last quarter. Junto Capital Management LP purchased a new stake in Check Point Software Technologies in the 2nd quarter worth $72,445,000. Renaissance Technologies LLC purchased a new stake in Check Point Software Technologies in the 1st quarter worth $34,171,000. Lazard Asset Management LLC boosted its holdings in shares of Check Point Software Technologies by 16.2% during the 1st quarter. Lazard Asset Management LLC now owns 809,115 shares of the technology company’s stock valued at $115,582,000 after purchasing an additional 112,713 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC boosted its holdings in shares of Check Point Software Technologies by 180.4% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 22,769 shares of the technology company’s stock valued at $2,922,000 after purchasing an additional 14,648 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. is a cybersecurity company that develops products and services designed to protect organizations, governments and consumers from cyber threats. Its offerings help secure networks, cloud environments, endpoints, mobile devices, data and remote access, with capabilities including threat prevention, firewall protection, intrusion prevention, email security and security management.

The company organizes its portfolio under platforms that include Quantum for network security, CloudGuard for cloud security and Harmony for user, endpoint and remote-access protection.