Check Point Software Technologies (NASDAQ:CHKP) Given New $250.00 Price Target at Scotiabank

Check Point Software Technologies (NASDAQ:CHKP) had its price target boosted by Scotiabank from $215.00 to $250.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a sector outperform rating on the technology company’s stock.

Several other research firms also recently issued reports on CHKP. JPMorgan Chase & Co. boosted their price objective on Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Guggenheim reiterated a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 24th. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a report on Friday. Robert W. Baird reduced their target price on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and raised their price target for the company from $204.00 to $207.00 in a research report on Thursday, January 2nd. Nineteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $215.27.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $218.02 on Friday. The firm has a 50-day simple moving average of $188.67 and a two-hundred day simple moving average of $187.76. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $226.02. The stock has a market cap of $23.98 billion, a PE ratio of 29.78, a P/E/G ratio of 3.19 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same quarter in the previous year, the company earned $1.80 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts expect 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

Large investors have recently bought and sold shares of the stock. Bank of Montreal Can lifted its holdings in shares of Check Point Software Technologies by 32.2% in the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock valued at $16,532,000 after purchasing an additional 20,866 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Check Point Software Technologies in the third quarter valued at approximately $1,599,000. MML Investors Services LLC lifted its stake in Check Point Software Technologies by 3.7% in the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after buying an additional 3,655 shares during the last quarter. Martin Investment Management LLC grew its position in shares of Check Point Software Technologies by 2.0% during the third quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock worth $31,497,000 after acquiring an additional 3,225 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC increased its holdings in shares of Check Point Software Technologies by 69.6% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company’s stock valued at $4,502,000 after acquiring an additional 9,580 shares during the period. Institutional investors and hedge funds 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.