Check Point Software Technologies (NASDAQ:CHKP) Given Buy Rating at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research note released on Friday morning,Benzinga reports. Truist Financial currently has a $250.00 price objective on the technology company’s stock, up from their prior price objective of $220.00.

Several other research firms have also issued reports on CHKP. BMO Capital Markets increased their target price on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Susquehanna increased their price objective on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a research note on Friday. Mizuho lifted their target price on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Stifel Nicolaus increased their price target on Check Point Software Technologies from $182.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Finally, Citigroup boosted their price objective on Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Nineteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $215.27.

Check Point Software Technologies Price Performance

Shares of CHKP stock opened at $218.02 on Friday. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $226.02. The firm has a fifty day moving average price of $188.67 and a 200-day moving average price of $187.76. The company has a market cap of $23.98 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 3.19 and a beta of 0.63.

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

Institutional Investors Weigh In On Check Point Software Technologies

Several large investors have recently added to or reduced their stakes in the stock. FSA Wealth Management LLC bought a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at approximately $27,000. Kathleen S. Wright Associates Inc. purchased a new stake in Check Point Software Technologies during the 3rd quarter valued at $33,000. GAMMA Investing LLC lifted its position in Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after buying an additional 60 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Check Point Software Technologies during the fourth quarter worth $35,000. Finally, Concord Wealth Partners bought a new position in Check Point Software Technologies during the third quarter valued at $37,000. 98.51% of the stock is owned by institutional investors.

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.