Check Point Software Technologies (NASDAQ:CHKP) Earns “Buy” Rating from Truist Financial

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “buy” rating reissued by equities researchers at Truist Financial in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $250.00 target price on the technology company’s stock, up from their prior target price of $220.00. Truist Financial’s price objective suggests a potential upside of 15.16% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Bank of America downgraded shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $205.00 to $195.00 in a report on Wednesday, October 30th. Wedbush boosted their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Robert W. Baird dropped their target price on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Evercore ISI raised their price objective on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, Mizuho increased 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 report on Thursday, October 17th. Eighteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $211.29.

Check Point Software Technologies Stock Down 0.9 %

Shares of NASDAQ CHKP traded down $1.91 during midday trading on Friday, hitting $217.09. 285,769 shares of the company’s stock were exchanged, compared to its average volume of 783,992. Check Point Software Technologies has a 12 month low of $145.75 and a 12 month high of $226.02. The company’s 50 day moving average price is $187.94 and its 200 day moving average price is $187.44. The firm has a market capitalization of $23.88 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 3.19 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. During the same period last year, the firm posted $1.80 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that Check Point Software Technologies will post 7.87 EPS for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

A number of institutional investors have recently modified their holdings of the business. Bank of Montreal Can lifted its stake in shares of Check Point Software Technologies by 32.2% in the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after acquiring an additional 20,866 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Check Point Software Technologies during the third quarter valued at about $1,599,000. MML Investors Services LLC raised its holdings in shares of Check Point Software Technologies by 3.7% in 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 lifted its position 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 in the last quarter. Finally, Chevy Chase Trust Holdings LLC boosted its stake 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. 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.