BMO Capital Markets Lowers Check Point Software Technologies (NASDAQ:CHKP) Price Target to $150.00

Check Point Software Technologies (NASDAQ:CHKP – Get Rating) had its target price decreased by BMO Capital Markets from $155.00 to $150.00 in a research note issued to investors on Tuesday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the technology company’s stock.

Several other analysts have also recently commented on the company. Piper Sandler lowered their target price on Check Point Software Technologies from $130.00 to $120.00 in a research report on Wednesday, July 13th. Wells Fargo & Company decreased their price target on Check Point Software Technologies from $144.00 to $130.00 in a research note on Thursday, April 28th. Barclays decreased their price target on Check Point Software Technologies from $145.00 to $140.00 and set an equal weight rating for the company in a research note on Tuesday. Jefferies Financial Group decreased their price target on Check Point Software Technologies from $145.00 to $130.00 in a research note on Monday, May 23rd. Finally, Bank of America raised Check Point Software Technologies from an underperform rating to a buy rating and increased their price target for the company from $130.00 to $140.00 in a research note on Wednesday, July 20th. Six analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $138.00.

Check Point Software Technologies Price Performance

CHKP opened at $119.31 on Tuesday. Check Point Software Technologies has a 12 month low of $107.85 and a 12 month high of $149.62. The stock has a market cap of $14.96 billion, a P/E ratio of 19.75, a P/E/G ratio of 2.60 and a beta of 0.60. The stock’s 50 day moving average price is $123.53 and its 200 day moving average price is $129.27.

Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last posted its earnings results on Monday, August 1st. The technology company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.62 by $0.02. Check Point Software Technologies had a return on equity of 25.49% and a net margin of 35.15%. The firm had revenue of $571.10 million for the quarter, compared to analysts’ expectations of $560.40 million. During the same period last year, the firm earned $1.41 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Equities analysts anticipate that Check Point Software Technologies will post 6.18 EPS for the current year.

Institutional Trading of Check Point Software Technologies

A number of hedge funds have recently modified their holdings of CHKP. Commonwealth Equity Services LLC lifted its holdings in shares of Check Point Software Technologies by 20.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 21,105 shares of the technology company’s stock valued at $2,460,000 after purchasing an additional 3,569 shares in the last quarter. Yousif Capital Management LLC purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at $738,000. Qube Research & Technologies Ltd lifted its holdings in shares of Check Point Software Technologies by 688.6% in the fourth quarter. Qube Research & Technologies Ltd now owns 93,081 shares of the technology company’s stock valued at $10,850,000 after purchasing an additional 81,278 shares in the last quarter. Capital Investment Advisory Services LLC purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at $356,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at $1,685,000. Hedge funds and other institutional investors own 91.96% of the company’s stock.

About Check Point Software Technologies

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Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.