Royal Bank of Canada Increases Check Point Software Technologies (NASDAQ:CHKP) Price Target to $215.00

Check Point Software Technologies (NASDAQ:CHKP) had its target price raised by stock analysts at Royal Bank of Canada from $187.00 to $215.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price target suggests a potential downside of 1.39% from the stock’s previous close.

Several other equities research analysts also recently weighed in on CHKP. Robert W. Baird decreased their target price on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Barclays increased their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday. Evercore ISI increased their target price on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Scotiabank increased their target price on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the stock a “sector outperform” rating in a research note on Friday. Finally, Stifel Nicolaus increased their target price on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the stock a “hold” rating in a research note on Friday. Nineteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Check Point Software Technologies presently has an average rating of “Hold” and an average target price of $215.27.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $218.02 on Friday. The stock’s 50-day moving average is $188.67 and its two-hundred day moving average is $187.76. The firm has a market cap of $23.98 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 3.19 and a beta of 0.63. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $226.02.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CHKP. Robeco Institutional Asset Management B.V. raised its holdings in Check Point Software Technologies by 10.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock valued at $354,153,000 after acquiring an additional 177,104 shares during the last quarter. FMR LLC raised its stake in Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after purchasing an additional 252,581 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Check Point Software Technologies by 73.8% during 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 worth $211,105,000 after purchasing an additional 464,821 shares during the period. Boston Trust Walden Corp raised its stake in Check Point Software Technologies by 26.9% during the fourth quarter. Boston Trust Walden Corp now owns 487,283 shares of the technology company’s stock worth $90,976,000 after purchasing an additional 103,388 shares during the period. Finally, Swedbank AB raised its stake in Check Point Software Technologies by 1.1% during the fourth quarter. Swedbank AB now owns 428,042 shares of the technology company’s stock worth $79,915,000 after purchasing an additional 4,760 shares during the period. 98.51% of the stock is 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.