Check Point Software Technologies (NASDAQ:CHKP) Stock Price Expected to Rise, Scotiabank Analyst Says

Check Point Software Technologies (NASDAQ:CHKP) had its target price hoisted by investment analysts at Scotiabank from $200.00 to $215.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price objective points to a potential upside of 11.00% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Robert W. Baird dropped their price target on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Mizuho lifted their target price on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Piper Sandler lifted their target price on shares of Check Point Software Technologies from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. The Goldman Sachs Group cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $204.00 to $207.00 in a research report on Thursday, January 2nd. Finally, Cantor Fitzgerald assumed coverage on shares of Check Point Software Technologies in a research report on Thursday, January 9th. They set a “neutral” rating and a $200.00 target price on the stock. Seventeen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $203.05.

Check Point Software Technologies Price Performance

Shares of CHKP traded up $5.82 during trading hours on Tuesday, hitting $193.69. The stock had a trading volume of 419,303 shares, compared to its average volume of 695,376. The firm has a 50 day simple moving average of $184.17 and a 200-day simple moving average of $185.99. The firm has a market capitalization of $21.30 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 2.95 and a beta of 0.63. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last announced 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. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. During the same quarter last year, the firm earned $1.80 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts predict that Check Point Software Technologies will post 7.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CHKP. Exchange Traded Concepts LLC grew its position in shares of Check Point Software Technologies by 142.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock valued at $44,000 after purchasing an additional 137 shares in the last quarter. Avior Wealth Management LLC grew its position in shares of Check Point Software Technologies by 83.1% during the 4th quarter. Avior Wealth Management LLC now owns 705 shares of the technology company’s stock valued at $132,000 after purchasing an additional 320 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Check Point Software Technologies by 0.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,417 shares of the technology company’s stock valued at $4,185,000 after purchasing an additional 110 shares in the last quarter. SG Americas Securities LLC increased its stake in Check Point Software Technologies by 12.9% in the fourth quarter. SG Americas Securities LLC now owns 69,242 shares of the technology company’s stock valued at $12,927,000 after acquiring an additional 7,927 shares during the last quarter. Finally, Davis Capital Management increased its stake in Check Point Software Technologies by 141.0% in the fourth quarter. Davis Capital Management now owns 3,974 shares of the technology company’s stock valued at $742,000 after acquiring an additional 2,325 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other 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.