Royal Bank of Canada Increases Check Point Software Technologies (NASDAQ:CHKP) Price Target to $145.00

Check Point Software Technologies (NASDAQ:CHKPGet Rating) had its price objective lifted by Royal Bank of Canada from $139.00 to $145.00 in a research note issued to investors on Monday, The Fly reports. They currently have a sector perform rating on the technology company’s stock.

A number of other analysts have also commented on the company. Citigroup began coverage on Check Point Software Technologies in a report on Monday, January 24th. They set a sell rating and a $115.00 price objective for the company. Credit Suisse Group upped their target price on Check Point Software Technologies from $100.00 to $105.00 and gave the company an underperform rating in a report on Friday, February 4th. Cowen upped their target price on Check Point Software Technologies from $142.00 to $164.00 and gave the company an outperform rating in a report on Thursday, March 10th. Deutsche Bank Aktiengesellschaft upped their target price on Check Point Software Technologies from $154.00 to $160.00 and gave the company a buy rating in a report on Thursday, March 17th. Finally, Mizuho upped their price objective on Check Point Software Technologies from $125.00 to $136.00 and gave the company a neutral rating in a research note on Friday, February 4th. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $140.29.

Shares of CHKP opened at $128.83 on Monday. The stock has a 50 day moving average price of $139.27 and a two-hundred day moving average price of $125.86. The firm has a market capitalization of $16.63 billion, a P/E ratio of 21.15, a P/E/G ratio of 3.00 and a beta of 0.62. Check Point Software Technologies has a 52 week low of $107.85 and a 52 week high of $149.62.

Check Point Software Technologies (NASDAQ:CHKPGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The technology company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.03. The firm had revenue of $542.70 million during the quarter, compared to analyst estimates of $535.57 million. Check Point Software Technologies had a return on equity of 25.39% and a net margin of 37.64%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.39 EPS. On average, analysts expect that Check Point Software Technologies will post 6.4 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. Franklin Resources Inc. grew its stake in shares of Check Point Software Technologies by 7.9% during the third quarter. Franklin Resources Inc. now owns 4,054,104 shares of the technology company’s stock valued at $458,276,000 after buying an additional 298,230 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Check Point Software Technologies by 11.7% during the first quarter. Nordea Investment Management AB now owns 3,303,458 shares of the technology company’s stock valued at $459,379,000 after buying an additional 345,565 shares during the last quarter. Altshuler Shaham Ltd grew its stake in shares of Check Point Software Technologies by 3.6% in the third quarter. Altshuler Shaham Ltd now owns 2,253,785 shares of the technology company’s stock worth $293,065,000 after purchasing an additional 79,109 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Check Point Software Technologies by 7.1% in the fourth quarter. Acadian Asset Management LLC now owns 2,045,176 shares of the technology company’s stock worth $238,341,000 after purchasing an additional 136,035 shares during the last quarter. Finally, Pendal Group Ltd bought a new stake in shares of Check Point Software Technologies in the third quarter worth about $119,675,000. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

About Check Point Software Technologies (Get Rating)

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.

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