Stephens Has Lowered Expectations for Check Point Software Technologies (NASDAQ:CHKP) Stock Price

Check Point Software Technologies (NASDAQ:CHKP) had its target price decreased by equities researchers at Stephens from $229.00 to $210.00 in a report released on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Stephens’ price target would indicate a potential upside of 11.36% from the company’s previous close.

Several other brokerages have also recently weighed in on CHKP. Wedbush reaffirmed an “outperform” rating and issued a $240.00 price objective on shares of Check Point Software Technologies in a report on Thursday, April 24th. Roth Capital started coverage on Check Point Software Technologies in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $215.00 price objective for the company. Jefferies Financial Group restated a “buy” rating and set a $230.00 price objective (down from $260.00) on shares of Check Point Software Technologies in a research report on Thursday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. Finally, UBS Group reduced their price objective on Check Point Software Technologies from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday. Fifteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $228.08.

Check Point Software Technologies Price Performance

CHKP opened at $188.58 on Thursday. The business has a fifty day simple moving average of $220.54 and a 200 day simple moving average of $217.91. The company has a market capitalization of $20.74 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 2.71 and a beta of 0.59. Check Point Software Technologies has a 1 year low of $169.01 and a 1 year high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.01. The business had revenue of $665.20 million during the quarter, compared to the consensus estimate of $663.10 million. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.17 EPS. Equities analysts anticipate that Check Point Software Technologies will post 8.61 earnings per share for the current fiscal year.

Institutional Trading of Check Point Software Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. lifted its stake in shares of Check Point Software Technologies by 107.2% in the fourth quarter. American Century Companies Inc. now owns 41,616 shares of the technology company’s stock worth $7,770,000 after acquiring an additional 21,532 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Check Point Software Technologies by 23.8% in the fourth quarter. JPMorgan Chase & Co. now owns 186,177 shares of the technology company’s stock worth $34,759,000 after acquiring an additional 35,766 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Check Point Software Technologies in the fourth quarter worth approximately $236,000. Schroder Investment Management Group lifted its stake in shares of Check Point Software Technologies by 53.9% in the fourth quarter. Schroder Investment Management Group now owns 4,706 shares of the technology company’s stock worth $881,000 after acquiring an additional 1,649 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Check Point Software Technologies by 3.4% in the fourth quarter. Wellington Management Group LLP now owns 13,885 shares of the technology company’s stock worth $2,592,000 after purchasing an additional 452 shares in the last quarter. 98.51% of the stock is currently 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.