Check Point Software Technologies (NASDAQ:CHKP) Price Target Increased to $225.00 by Analysts at Jefferies Financial Group

Check Point Software Technologies (NASDAQ:CHKP) had its price objective boosted by Jefferies Financial Group from $210.00 to $225.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other brokerages have also issued reports on CHKP. Evercore ISI upgraded shares of Check Point Software Technologies to a hold rating in a research report on Monday, September 16th. Scotiabank raised their target price on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a sector outperform rating in a research report on Thursday, July 25th. Susquehanna raised their target price on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a positive rating in a research report on Thursday, July 25th. Royal Bank of Canada increased their price target 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. Finally, Robert W. Baird increased their price target 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. Sixteen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $184.47.

Check Point Software Technologies Price Performance

CHKP stock opened at $193.04 on Tuesday. Check Point Software Technologies has a 12 month low of $126.57 and a 12 month high of $196.56. The company’s 50 day simple moving average is $186.27 and its 200-day simple moving average is $168.74. The firm has a market capitalization of $21.80 billion, a PE ratio of 27.08, a P/E/G ratio of 3.05 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The firm had revenue of $627.40 million for the quarter, compared to analyst estimates of $623.19 million. During the same quarter last year, the business earned $1.74 earnings per share. Check Point Software Technologies’s revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Check Point Software Technologies will post 7.83 earnings per share for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

Hedge funds have recently made changes to their positions in the business. Tidal Investments LLC purchased a new position in shares of Check Point Software Technologies in the 1st quarter valued at $6,558,000. Principal Financial Group Inc. increased its stake in Check Point Software Technologies by 69.3% during the 4th quarter. Principal Financial Group Inc. now owns 27,026 shares of the technology company’s stock worth $4,129,000 after buying an additional 11,064 shares during the period. Quantbot Technologies LP purchased a new stake in Check Point Software Technologies during the 1st quarter worth $1,095,000. Envestnet Asset Management Inc. increased its stake in Check Point Software Technologies by 4.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 379,889 shares of the technology company’s stock worth $58,043,000 after buying an additional 17,916 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Check Point Software Technologies by 8.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 97,434 shares of the technology company’s stock worth $15,980,000 after buying an additional 7,357 shares during the period. Hedge funds and other institutional investors own 87.62% 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.