Royal Bank of Canada Boosts Check Point Software Technologies (NASDAQ:CHKP) Price Target to $215.00

Check Point Software Technologies (NASDAQ:CHKPGet Free Report) had its target price boosted by Royal Bank of Canada from $187.00 to $215.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would suggest a potential downside of 2.19% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Mizuho lifted their price target on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Scotiabank upped their target price on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the company a “sector outperform” rating in a research note on Friday. Cantor Fitzgerald restated a “neutral” rating and set a $200.00 price target on shares of Check Point Software Technologies in a research note on Monday. Evercore ISI increased their target price on 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. Finally, JPMorgan Chase & Co. boosted their price target on Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Eighteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $214.57.

Get Our Latest Report on CHKP

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP traded up $0.83 on Friday, hitting $219.82. 534,798 shares of the company were exchanged, compared to its average volume of 797,466. The company’s 50 day moving average price is $187.94 and its two-hundred day moving average price is $187.44. The firm has a market capitalization of $24.18 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 3.19 and a beta of 0.63. Check Point Software Technologies has a one year low of $145.75 and a one year high of $226.02.

Check Point Software Technologies (NASDAQ:CHKPGet Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25. The company 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 company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $1.80 EPS. Research analysts predict that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

Several institutional investors have recently added to or reduced their stakes in CHKP. Robeco Institutional Asset Management B.V. raised its holdings in shares of Check Point Software Technologies by 10.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock valued at $354,153,000 after purchasing an additional 177,104 shares during the last quarter. FMR LLC increased its position in Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after buying an additional 252,581 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Check Point Software Technologies by 73.8% during the 3rd 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 acquiring an additional 464,821 shares during the period. Boston Trust Walden Corp raised its stake in Check Point Software Technologies by 26.9% in the 4th quarter. Boston Trust Walden Corp now owns 487,283 shares of the technology company’s stock valued at $90,976,000 after acquiring an additional 103,388 shares during the period. Finally, Swedbank AB lifted its holdings in Check Point Software Technologies by 1.1% during the 4th quarter. Swedbank AB now owns 428,042 shares of the technology company’s stock valued at $79,915,000 after purchasing an additional 4,760 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

About Check Point Software Technologies

(Get Free Report)

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.

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