Scotiabank Raises Check Point Software Technologies (NASDAQ:CHKP) Price Target to $215.00

Check Point Software Technologies (NASDAQ:CHKP) had its price objective increased by research analysts at Scotiabank from $200.00 to $215.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s target price would suggest a potential upside of 10.67% from the company’s current price.

CHKP has been the topic of a number of other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Citigroup increased their price objective on Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Evercore ISI increased their price objective on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Cantor Fitzgerald started coverage on Check Point Software Technologies in a report on Thursday, January 9th. They issued a “neutral” rating and a $200.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Seventeen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $203.05.

Check Point Software Technologies Trading Up 0.7 %

CHKP stock opened at $194.28 on Tuesday. The firm has a market capitalization of $21.37 billion, a PE ratio of 26.54, a P/E/G ratio of 2.95 and a beta of 0.63. Check Point Software Technologies has a one year low of $145.75 and a one year high of $210.70. The firm has a 50-day moving average of $184.48 and a two-hundred day moving average of $186.15.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.25. The company had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.80 EPS. On average, equities research analysts anticipate that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CHKP. American Century Companies Inc. lifted its position in Check Point Software Technologies by 11.9% in the second quarter. American Century Companies Inc. now owns 18,110 shares of the technology company’s stock worth $2,988,000 after purchasing an additional 1,920 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of Check Point Software Technologies during the second quarter valued at $2,079,000. AE Wealth Management LLC bought a new position in shares of Check Point Software Technologies during the second quarter valued at $327,000. Thrivent Financial for Lutherans lifted its holdings in shares of Check Point Software Technologies by 89.7% during the second quarter. Thrivent Financial for Lutherans now owns 110,627 shares of the technology company’s stock valued at $18,253,000 after acquiring an additional 52,300 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Check Point Software Technologies by 8.9% during the second quarter. 1832 Asset Management L.P. now owns 28,522 shares of the technology company’s stock valued at $4,706,000 after acquiring an additional 2,320 shares during the period. 98.51% of the stock is owned by institutional investors.

About Check Point Software Technologies

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.