Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $220.00 at Truist Financial

Check Point Software Technologies (NASDAQ:CHKP) had its target price lifted by Truist Financial from $200.00 to $220.00 in a research note published on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the technology company’s stock.

Several other brokerages have also recently issued reports on CHKP. Susquehanna lifted their target price on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. Barclays boosted their price objective on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Scotiabank boosted their price objective on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group boosted their price target on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Mizuho boosted their price objective 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. Fifteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $192.56.

Check Point Software Technologies Trading Down 0.9 %

CHKP opened at $205.38 on Wednesday. Check Point Software Technologies has a 12-month low of $126.57 and a 12-month high of $210.70. The firm has a market capitalization of $23.19 billion, a PE ratio of 28.53, a P/E/G ratio of 3.17 and a beta of 0.62. The firm has a 50 day moving average of $194.49 and a two-hundred day moving average of $173.59.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The firm had revenue of $627.40 million during the quarter, compared to analyst estimates of $623.19 million. During the same period in the previous year, the firm earned $1.74 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, analysts predict that Check Point Software Technologies will post 7.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CHKP. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Check Point Software Technologies during the 2nd quarter valued at approximately $30,000. Concord Wealth Partners bought a new position in shares of Check Point Software Technologies during the 1st quarter worth approximately $31,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Check Point Software Technologies during the 3rd quarter worth approximately $33,000. FSC Wealth Advisors LLC acquired a new stake in Check Point Software Technologies during the 3rd quarter valued at $60,000. Finally, Sound Income Strategies LLC increased its holdings in Check Point Software Technologies by 654.4% during the 3rd quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock valued at $83,000 after purchasing an additional 373 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

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.