Check Point Software Technologies Ltd. (NASDAQ:CHKP) Receives $232.44 Consensus Target Price from Analysts

Check Point Software Technologies Ltd. (NASDAQ:CHKP - Get Free Report) has been given a consensus rating of "Hold" by the twenty-eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Sixteen equities research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $232.44.

A number of research firms have recently issued reports on CHKP. Scotiabank cut their price objective on Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating for the company in a report on Thursday, April 24th. Compass Point set a $260.00 price objective on Check Point Software Technologies in a report on Thursday, March 27th. BMO Capital Markets restated an "outperform" rating and set a $250.00 target price on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Wedbush restated an "outperform" rating and set a $240.00 target price on shares of Check Point Software Technologies in a report on Thursday, April 24th. Finally, Roth Capital started coverage on Check Point Software Technologies in a report on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 target price for the company.

Check Point Software Technologies Trading Up 1.9%

Shares of CHKP traded up $4.19 during midday trading on Thursday, reaching $223.58. The stock had a trading volume of 304,434 shares, compared to its average volume of 785,871. The company's 50-day moving average is $221.75 and its 200 day moving average is $213.92. Check Point Software Technologies has a 12-month low of $167.54 and a 12-month high of $234.36. The company has a market capitalization of $24.59 billion, a price-to-earnings ratio of 29.50, a price-to-earnings-growth ratio of 3.20 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The firm had revenue of $637.80 million during the quarter, compared to analysts' expectations of $635.80 million. During the same period in the prior year, the business earned $2.04 EPS. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts forecast that Check Point Software Technologies will post 8.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CHKP. Norges Bank purchased a new position in shares of Check Point Software Technologies in the 4th quarter valued at approximately $428,820,000. Victory Capital Management Inc. lifted its stake in shares of Check Point Software Technologies by 2,704.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,304,551 shares of the technology company's stock valued at $297,333,000 after purchasing an additional 1,258,034 shares during the period. Invesco Ltd. lifted its stake in shares of Check Point Software Technologies by 737.5% in the 1st quarter. Invesco Ltd. now owns 982,986 shares of the technology company's stock valued at $224,042,000 after purchasing an additional 865,608 shares during the period. Bessemer Group Inc. lifted its stake in shares of Check Point Software Technologies by 5,396.1% in the 1st quarter. Bessemer Group Inc. now owns 658,485 shares of the technology company's stock valued at $150,081,000 after purchasing an additional 646,504 shares during the period. Finally, Westfield Capital Management Co. LP lifted its stake in shares of Check Point Software Technologies by 214.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 864,717 shares of the technology company's stock valued at $197,086,000 after purchasing an additional 589,816 shares during the period. Hedge funds and other institutional investors own 98.51% of the company's stock.

Check Point Software Technologies Company Profile

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.