Piper Sandler Issues Positive Forecast for Check Point Software Technologies (NASDAQ:CHKP) Stock Price

Check Point Software Technologies (NASDAQ:CHKP) had its price objective boosted by investment analysts at Piper Sandler from $185.00 to $195.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price target would suggest a potential upside of 7.92% from the company’s previous close.

A number of other equities research analysts have also commented on the stock. Evercore ISI increased their price objective on shares of 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. Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $205.00 to $195.00 in a report on Wednesday, October 30th. Robert W. Baird cut their price target on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. BMO Capital Markets increased their target price on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $204.00 to $207.00 in a research report on Thursday. Seventeen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $199.24.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP traded down $0.71 during mid-day trading on Monday, hitting $180.69. 323,731 shares of the stock were exchanged, compared to its average volume of 515,091. The company has a market cap of $19.87 billion, a P/E ratio of 24.68, a PEG ratio of 3.21 and a beta of 0.63. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $210.70. The stock’s fifty day simple moving average is $182.74 and its two-hundred day simple moving average is $184.31.

Check Point Software Technologies (NASDAQ:CHKP) last issued 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 firm had revenue of $635.10 million during 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 business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.80 EPS. As a group, equities research analysts predict that Check Point Software Technologies will post 7.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. CWA Asset Management Group LLC grew its position in Check Point Software Technologies by 34.1% during the fourth quarter. CWA Asset Management Group LLC now owns 11,120 shares of the technology company’s stock worth $2,076,000 after buying an additional 2,828 shares in the last quarter. GAMMA Investing LLC lifted its position in Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after purchasing an additional 60 shares during the period. DGS Capital Management LLC raised its position in Check Point Software Technologies by 0.7% during the third quarter. DGS Capital Management LLC now owns 11,809 shares of the technology company’s stock valued at $2,277,000 after purchasing an additional 87 shares in the last quarter. Franklin Resources Inc. lifted its stake in Check Point Software Technologies by 7.0% during the third quarter. Franklin Resources Inc. now owns 166,641 shares of the technology company’s stock worth $34,665,000 after purchasing an additional 10,861 shares during the last quarter. Finally, Peapack Gladstone Financial Corp boosted its holdings in shares of Check Point Software Technologies by 0.8% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 111,316 shares of the technology company’s stock valued at $21,463,000 after purchasing an additional 872 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.