BMO Capital Markets Boosts Check Point Software Technologies (NASDAQ:CHKP) Price Target to $238.00

Check Point Software Technologies (NASDAQ:CHKP) had its target price boosted by BMO Capital Markets from $200.00 to $238.00 in a research report report published on Friday morning, Marketbeat.com reports. The firm currently has a market perform rating on the technology company’s stock.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their price target on Check Point Software Technologies from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their target price on Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Barclays raised their price target on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Robert W. Baird increased their price objective on shares of Check Point Software Technologies from $200.00 to $210.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Royal Bank of Canada lifted their target price on Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Fifteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $194.67.

Check Point Software Technologies Stock Up 0.9 %

Shares of Check Point Software Technologies stock opened at $207.16 on Friday. Check Point Software Technologies has a 12-month low of $126.57 and a 12-month high of $210.70. The company has a market capitalization of $23.39 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 3.17 and a beta of 0.62. The firm’s 50-day moving average price is $194.88 and its two-hundred day moving average price is $173.81.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business 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 posted $1.74 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts expect that Check Point Software Technologies will post 7.83 earnings per share for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

Hedge funds have recently made changes to their positions in the business. Kathmere Capital Management LLC grew its position in shares of Check Point Software Technologies by 12.4% during the 1st quarter. Kathmere Capital Management LLC now owns 1,719 shares of the technology company’s stock valued at $282,000 after acquiring an additional 190 shares during the period. SteelPeak Wealth LLC bought a new position in Check Point Software Technologies during the first quarter valued at $251,000. Miracle Mile Advisors LLC purchased a new stake in Check Point Software Technologies in the first quarter worth $396,000. Allspring Global Investments Holdings LLC raised its stake in shares of Check Point Software Technologies by 8.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 97,434 shares of the technology company’s stock valued at $15,980,000 after buying an additional 7,357 shares during the period. Finally, Norden Group LLC bought a new position in shares of Check Point Software Technologies during the 1st quarter worth $200,000. 87.62% of the stock is currently owned by 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.