Check Point Software Technologies (NASDAQ:CHKP) Given New $190.00 Price Target at Citigroup

Check Point Software Technologies (NASDAQ:CHKP) had its price target increased by research analysts at Citigroup from $185.00 to $190.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective would suggest a potential upside of 0.95% from the company’s current price.

Several other equities analysts have also recently weighed in on CHKP. Truist Financial lifted their price objective on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wedbush upped their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Barclays cut their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Finally, 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 report on Wednesday, October 30th. Seventeen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Check Point Software Technologies currently has a consensus rating of “Hold” and an average target price of $202.33.

Check Point Software Technologies Stock Up 0.8 %

NASDAQ CHKP traded up $1.44 on Friday, reaching $188.21. 255,199 shares of the stock traded hands, compared to its average volume of 688,223. Check Point Software Technologies has a 12 month low of $145.75 and a 12 month high of $210.70. The company has a market cap of $20.70 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 2.86 and a beta of 0.63. The firm’s fifty day simple moving average is $183.55 and its 200 day simple moving average is $185.44.

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

Institutional Investors Weigh In On Check Point Software Technologies

Several institutional investors and hedge funds have recently made changes to their positions in CHKP. Bleakley Financial Group LLC lifted its holdings in Check Point Software Technologies by 3.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,797 shares of the technology company’s stock valued at $346,000 after purchasing an additional 57 shares during the last quarter. GAMMA Investing LLC increased its holdings in Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after purchasing an additional 60 shares in the last quarter. Brighton Jones LLC boosted its stake in Check Point Software Technologies by 5.2% in the third quarter. Brighton Jones LLC now owns 1,337 shares of the technology company’s stock worth $258,000 after purchasing an additional 66 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Check Point Software Technologies by 1.2% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,402 shares of the technology company’s stock worth $1,042,000 after purchasing an additional 66 shares during the last quarter. Finally, HF Advisory Group LLC grew its holdings in shares of Check Point Software Technologies by 1.2% during the third quarter. HF Advisory Group LLC now owns 6,061 shares of the technology company’s stock worth $1,169,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

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.