Jefferies Financial Group Forecasts Strong Price Appreciation for Check Point Software Technologies (NASDAQ:CHKP) Stock

Check Point Software Technologies (NASDAQ:CHKP) had its price objective lifted by Jefferies Financial Group from $220.00 to $225.00 in a report published on Thursday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock.

Several other equities analysts have also recently commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $187.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Evercore ISI boosted their price objective on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Stifel Nicolaus raised their target price on Check Point Software Technologies from $182.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday. Barclays dropped their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Finally, Robert W. Baird decreased their price target on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $199.05.

Check Point Software Technologies Stock Up 0.6 %

Shares of Check Point Software Technologies stock opened at $188.05 on Thursday. The company has a market cap of $20.68 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63. Check Point Software Technologies has a 52 week low of $145.75 and a 52 week high of $210.70. The business has a 50 day moving average price of $186.59 and a 200-day moving average price of $181.99.

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 for the quarter, meeting the consensus estimate of $2.25. The business had revenue of $635.10 million for the quarter, compared to analysts’ expectations 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 was up 6.5% on a year-over-year basis. During the same period last year, the business earned $1.80 EPS. As a group, research analysts anticipate that Check Point Software Technologies will post 7.87 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Check Point Software Technologies by 7.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,318 shares of the technology company’s stock valued at $382,000 after acquiring an additional 159 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Check Point Software Technologies by 2.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 67,131 shares of the technology company’s stock worth $11,077,000 after buying an additional 1,739 shares in the last quarter. &PARTNERS bought a new position in shares of Check Point Software Technologies in the 2nd quarter worth $313,000. Capital Insight Partners LLC raised its position in shares of Check Point Software Technologies by 4.0% during the 2nd quarter. Capital Insight Partners LLC now owns 22,278 shares of the technology company’s stock valued at $3,676,000 after buying an additional 852 shares in the last quarter. Finally, Monarch Capital Management Inc. lifted its holdings in shares of Check Point Software Technologies by 10.0% during the 2nd quarter. Monarch Capital Management Inc. now owns 2,872 shares of the technology company’s stock worth $474,000 after acquiring an additional 260 shares during the last quarter. Institutional investors 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.