Check Point Software Technologies (NASDAQ:CHKP) Stock Price Expected to Rise, Mizuho Analyst Says

Check Point Software Technologies (NASDAQ:CHKP) had its target price boosted by equities researchers at Mizuho from $230.00 to $240.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Mizuho’s price target would indicate a potential upside of 8.50% from the stock’s previous close.

Several other equities analysts also recently commented on CHKP. Scotiabank dropped their price objective on Check Point Software Technologies from $250.00 to $240.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group upped their price objective on Check Point Software Technologies from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Wall Street Zen upgraded Check Point Software Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Morgan Stanley dropped their target price on Check Point Software Technologies from $235.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company dropped their target price on Check Point Software Technologies from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Sixteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Check Point Software Technologies has a consensus rating of “Hold” and an average price target of $232.44.

Check Point Software Technologies Stock Performance

CHKP traded up $2.26 during midday trading on Monday, reaching $221.19. 476,336 shares of the company were exchanged, compared to its average volume of 786,143. The company’s fifty day moving average price is $219.86 and its 200 day moving average price is $210.62. The company has a market cap of $24.33 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66. Check Point Software Technologies has a one year low of $153.88 and a one year high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP) last announced 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 firm had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. During the same quarter in the previous year, the business earned $2.04 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Check Point Software Technologies will post 8.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CHKP. Allworth Financial LP raised its stake in Check Point Software Technologies by 22.0% during the fourth quarter. Allworth Financial LP now owns 611 shares of the technology company’s stock worth $119,000 after buying an additional 110 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Check Point Software Technologies in the 4th quarter worth approximately $35,000. Sanctuary Advisors LLC lifted its stake in Check Point Software Technologies by 4.9% in the 4th quarter. Sanctuary Advisors LLC now owns 4,924 shares of the technology company’s stock worth $919,000 after purchasing an additional 231 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Check Point Software Technologies by 14.5% in the 4th quarter. CIBC Asset Management Inc now owns 9,589 shares of the technology company’s stock worth $1,790,000 after purchasing an additional 1,215 shares in the last quarter. Finally, Truist Financial Corp increased its stake in Check Point Software Technologies by 2.6% in the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock valued at $22,311,000 after acquiring an additional 3,080 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

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.