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

Check Point Software Technologies (NASDAQ:CHKP) had its target price hoisted by Stifel Nicolaus from $182.00 to $190.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a hold rating on the technology company’s stock.

CHKP has been the topic of several other reports. Mizuho upped their price target on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Jefferies Financial Group increased their price target on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on 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. Finally, Robert W. Baird lowered their target price on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $199.05.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $181.09 on Wednesday. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $210.70. The business’s 50 day moving average is $187.44 and its two-hundred day moving average is $181.48. The stock has a market capitalization of $19.92 billion, a P/E ratio of 24.74, a PEG ratio of 3.21 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting the consensus estimate of $2.25. The company had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. Check Point Software Technologies’s quarterly revenue 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. As a group, equities research analysts anticipate that Check Point Software Technologies will post 7.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DGS Capital Management LLC boosted its holdings in shares of Check Point Software Technologies by 0.7% in the 3rd quarter. DGS Capital Management LLC now owns 11,809 shares of the technology company’s stock valued at $2,277,000 after buying an additional 87 shares in the last quarter. Franklin Resources Inc. boosted its stake in Check Point Software Technologies by 7.0% in the third quarter. Franklin Resources Inc. now owns 166,641 shares of the technology company’s stock valued at $34,665,000 after acquiring an additional 10,861 shares in the last quarter. Peapack Gladstone Financial Corp grew its holdings in Check Point Software Technologies by 0.8% in the third quarter. Peapack Gladstone Financial Corp now owns 111,316 shares of the technology company’s stock worth $21,463,000 after purchasing an additional 872 shares during the last quarter. Tidal Investments LLC increased its position in shares of Check Point Software Technologies by 3.1% during the third quarter. Tidal Investments LLC now owns 40,686 shares of the technology company’s stock worth $7,845,000 after purchasing an additional 1,224 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Check Point Software Technologies during the 3rd quarter valued at $187,000. 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.