Check Point Software Technologies Ltd. (NASDAQ:CHKP) Receives $199.24 Consensus Target Price from Analysts

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) have received a consensus recommendation of “Hold” from the twenty-three brokerages that are covering the firm, MarketBeat Ratings reports. Sixteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $202.95.

CHKP has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Wedbush upped their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Piper Sandler boosted their target price on shares of Check Point Software Technologies from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Truist Financial raised their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Bank of America downgraded shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $205.00 to $195.00 in a report on Wednesday, October 30th.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $183.40 on Thursday. The stock has a market capitalization of $20.17 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63. The company’s 50-day moving average price is $183.36 and its two-hundred day moving average price is $185.45. Check Point Software Technologies has a one year low of $145.75 and a one year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same period in the prior year, the firm posted $1.80 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts anticipate that Check Point Software Technologies will post 7.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CHKP. Massachusetts Financial Services Co. MA lifted its holdings in shares of Check Point Software Technologies by 2.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock worth $912,070,000 after purchasing an additional 114,938 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in Check Point Software Technologies by 10.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock worth $354,153,000 after buying an additional 177,104 shares during the period. FMR LLC grew its position in shares of Check Point Software Technologies by 28.7% in the 3rd quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after buying an additional 252,581 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Check Point Software Technologies by 73.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock valued at $211,105,000 after buying an additional 464,821 shares during the period. Finally, Westwood Global Investments LLC increased its stake in shares of Check Point Software Technologies by 4.2% in the second quarter. Westwood Global Investments LLC now owns 841,953 shares of the technology company’s stock valued at $138,922,000 after buying an additional 34,091 shares during the period. 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.