UBS Group Issues Positive Forecast for Check Point Software Technologies (NASDAQ:CHKP) Stock Price

Check Point Software Technologies (NASDAQ:CHKP) had its price objective increased by equities researchers at UBS Group from $200.00 to $230.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. UBS Group’s target price would indicate a potential upside of 5.17% from the company’s current price.

A number of other brokerages also recently commented on CHKP. Robert W. Baird cut their price objective on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Scotiabank increased their price objective on Check Point Software Technologies from $215.00 to $250.00 and gave the company a “sector outperform” rating in a research report on Friday. JPMorgan Chase & Co. increased their price objective on Check Point Software Technologies from $207.00 to $221.00 and gave the company a “neutral” rating in a research report on Friday. Piper Sandler increased their price objective on Check Point Software Technologies from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Finally, Susquehanna increased their price objective on Check Point Software Technologies from $215.00 to $255.00 and gave the company a “positive” rating in a research report on Friday. Nineteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Check Point Software Technologies has an average rating of “Hold” and an average price target of $215.27.

Check Point Software Technologies Stock Down 0.1 %

NASDAQ CHKP traded down $0.30 on Friday, reaching $218.69. 642,631 shares of the stock traded hands, compared to its average volume of 803,661. The firm’s fifty day simple moving average is $187.94 and its 200 day simple moving average is $187.44. The company has a market cap of $24.05 billion, a price-to-earnings ratio of 29.92, a P/E/G ratio of 3.19 and a beta of 0.63. Check Point Software Technologies has a 12 month low of $145.75 and a 12 month high of $226.02.

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

Institutional Investors Weigh In On Check Point Software Technologies

Several hedge funds have recently made changes to their positions in CHKP. Bank of Montreal Can lifted its stake in Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after purchasing an additional 20,866 shares during the period. CWA Asset Management Group LLC bought a new position in Check Point Software Technologies during the third quarter worth about $1,599,000. MML Investors Services LLC lifted its stake in Check Point Software Technologies by 3.7% during the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock worth $19,957,000 after purchasing an additional 3,655 shares during the period. Martin Investment Management LLC lifted its stake in Check Point Software Technologies by 2.0% during the third quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock worth $31,497,000 after purchasing an additional 3,225 shares during the period. Finally, Chevy Chase Trust Holdings LLC lifted its stake in Check Point Software Technologies by 69.6% during the third quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company’s stock worth $4,502,000 after purchasing an additional 9,580 shares during the period. 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.