Citigroup Issues Positive Forecast for Check Point Software Technologies (NASDAQ:CHKP) Stock Price

Check Point Software Technologies (NASDAQ:CHKPGet Free Report) had its target price boosted by analysts at Citigroup from $185.00 to $190.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup’s target price would indicate a potential upside of 0.95% from the company’s current price.

A number of other equities analysts have also recently issued reports on CHKP. Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $205.00 to $195.00 in a report on Wednesday, October 30th. Truist Financial boosted their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Jefferies Financial Group raised their price objective on Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Cantor Fitzgerald initiated coverage on Check Point Software Technologies in a report on Thursday, January 9th. They issued a “neutral” rating and a $200.00 price target for the company. Finally, Mizuho boosted their price objective on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Seventeen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $202.33.

Get Our Latest Research Report on CHKP

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP traded up $1.44 during mid-day trading on Friday, hitting $188.21. The company’s stock had a trading volume of 255,199 shares, compared to its average volume of 688,223. The stock has a market cap of $20.70 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 2.86 and a beta of 0.63. The company’s fifty day simple moving average is $183.55 and its 200-day simple moving average is $185.44. Check Point Software Technologies has a one year low of $145.75 and a one year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKPGet Free Report) 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. The firm had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.80 EPS. On average, sell-side analysts predict that Check Point Software Technologies will post 7.87 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can grew its holdings in Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after purchasing an additional 20,866 shares during the period. CWA Asset Management Group LLC bought a new position in shares of Check Point Software Technologies during the 3rd quarter worth approximately $1,599,000. MML Investors Services LLC increased its holdings in shares of Check Point Software Technologies by 3.7% during the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock worth $19,957,000 after acquiring an additional 3,655 shares during the last quarter. Martin Investment Management LLC raised its stake in Check Point Software Technologies by 2.0% in the 3rd quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock valued at $31,497,000 after acquiring an additional 3,225 shares during the period. Finally, Chevy Chase Trust Holdings LLC lifted its holdings in Check Point Software Technologies by 69.6% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company’s stock valued at $4,502,000 after purchasing an additional 9,580 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Check Point Software Technologies (NASDAQ:CHKP)

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