Analysts Set Check Point Software Technologies Ltd. (NASDAQ:CHKP) PT at $232.04

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has received an average recommendation of “Hold” from the twenty-eight analysts that are currently covering the firm, MarketBeat reports. Sixteen research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $232.04.

CHKP has been the topic of several research reports. Baird R W upgraded shares of Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Piper Sandler upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $220.00 to $260.00 in a report on Monday, March 3rd. Guggenheim reiterated a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Arete Research raised Check Point Software Technologies to a “hold” rating in a research note on Monday, February 24th. Finally, Wedbush restated an “outperform” rating and issued a $240.00 target price on shares of Check Point Software Technologies in a report on Thursday, April 24th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHKP. Focus Partners Wealth increased its stake in shares of Check Point Software Technologies by 0.4% during the 1st quarter. Focus Partners Wealth now owns 31,440 shares of the technology company’s stock worth $7,166,000 after purchasing an additional 135 shares during the last quarter. Plato Investment Management Ltd grew its holdings in Check Point Software Technologies by 2.4% during the first quarter. Plato Investment Management Ltd now owns 5,989 shares of the technology company’s stock valued at $1,380,000 after purchasing an additional 139 shares during the period. Client 1ST Advisory Group LLC purchased a new stake in Check Point Software Technologies in the first quarter worth $238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Check Point Software Technologies by 43.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,483,714 shares of the technology company’s stock valued at $338,168,000 after buying an additional 450,099 shares during the period. Finally, Woodline Partners LP raised its stake in shares of Check Point Software Technologies by 217.0% in the first quarter. Woodline Partners LP now owns 257,495 shares of the technology company’s stock valued at $58,688,000 after buying an additional 176,278 shares during the period. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Performance

CHKP stock opened at $220.92 on Wednesday. Check Point Software Technologies has a fifty-two week low of $145.75 and a fifty-two week high of $234.36. The stock’s 50 day simple moving average is $219.55 and its 200 day simple moving average is $204.20. The company has a market cap of $24.30 billion, a P/E ratio of 29.57, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The company had revenue of $637.80 million for the quarter, compared to analyst estimates of $635.80 million. During the same period in the prior year, the firm earned $2.04 earnings per share. Check Point Software Technologies’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts predict that Check Point Software Technologies will post 8.61 earnings per share for the current year.

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.