Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $200.00 at Scotiabank

Check Point Software Technologies (NASDAQ:CHKP) had its target price raised by Scotiabank from $180.00 to $200.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a sector outperform rating on the technology company’s stock.

CHKP has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft upped their price target on Check Point Software Technologies from $175.00 to $185.00 and gave the company a hold rating in a report on Thursday. KeyCorp raised Check Point Software Technologies to a hold rating in a report on Tuesday, May 14th. Stifel Nicolaus dropped their price target on Check Point Software Technologies from $170.00 to $165.00 and set a hold rating on the stock in a report on Friday, April 26th. BMO Capital Markets upped their price target on Check Point Software Technologies from $180.00 to $200.00 and gave the company a market perform rating in a report on Thursday. Finally, Robert W. Baird upped their price target on Check Point Software Technologies from $168.00 to $200.00 and gave the company a neutral rating in a report on Thursday. Fifteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $183.68.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $181.17 on Thursday. Check Point Software Technologies has a 12 month low of $125.68 and a 12 month high of $184.67. The stock has a market cap of $20.46 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 2.84 and a beta of 0.62. The stock’s 50 day moving average price is $161.23 and its 200 day moving average price is $160.01.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.70% and a net margin of 33.61%. The firm had revenue of $627.40 million for the quarter, compared to analysts’ expectations of $623.19 million. During the same quarter in the previous year, the company earned $1.74 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts expect that Check Point Software Technologies will post 7.79 EPS for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bailard Inc. grew its holdings in shares of Check Point Software Technologies by 52.8% during the 2nd quarter. Bailard Inc. now owns 26,030 shares of the technology company’s stock valued at $4,295,000 after acquiring an additional 9,000 shares in the last quarter. Monarch Capital Management Inc. grew its holdings in shares of Check Point Software Technologies by 10.0% during the 2nd quarter. Monarch Capital Management Inc. now owns 2,872 shares of the technology company’s stock valued at $474,000 after acquiring an additional 260 shares in the last quarter. Capital Insight Partners LLC grew its holdings in shares of Check Point Software Technologies by 4.0% during the 2nd quarter. Capital Insight Partners LLC now owns 22,278 shares of the technology company’s stock valued at $3,676,000 after acquiring an additional 852 shares in the last quarter. Mcrae Capital Management Inc. boosted its holdings in Check Point Software Technologies by 4.9% in the second quarter. Mcrae Capital Management Inc. now owns 122,945 shares of the technology company’s stock worth $20,286,000 after purchasing an additional 5,764 shares in the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. bought a new stake in Check Point Software Technologies in the second quarter worth $201,000. 87.62% 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.