Stifel Nicolaus Increases Check Point Software Technologies (NASDAQ:CHKP) Price Target to $190.00

Check Point Software Technologies (NASDAQ:CHKP) had its price objective boosted by equities researchers at Stifel Nicolaus from $182.00 to $190.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 1.60% from the company’s previous close.

Several other research firms also recently issued reports on CHKP. Royal Bank of Canada reiterated a “sector perform” rating and set a $187.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Mizuho upped their target price on 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. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted 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 note on Monday, October 28th. Finally, Jefferies Financial Group raised their target price on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Fifteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $199.05.

Check Point Software Technologies Stock Up 3.3 %

NASDAQ CHKP opened at $187.01 on Wednesday. The stock has a market capitalization of $20.57 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $210.70. The company has a 50 day moving average price of $187.00 and a two-hundred day moving average price of $181.52.

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

Institutional Trading of Check Point Software Technologies

Institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in 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 worth $211,105,000 after purchasing an additional 464,821 shares during the period. Acadian Asset Management LLC raised its stake in shares of Check Point Software Technologies by 10.5% in the 2nd quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock valued at $677,869,000 after buying an additional 391,983 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Check Point Software Technologies in the 2nd quarter valued at $47,244,000. World Investment Advisors LLC bought a new position in shares of Check Point Software Technologies during the 3rd quarter worth about $51,922,000. Finally, FMR LLC boosted its position in shares of Check Point Software Technologies by 28.7% during the 3rd quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after acquiring an additional 252,581 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

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.