Stephens Boosts Check Point Software Technologies Ltd. (CHKP) Price Target to $122.00

Check Point Software Technologies Ltd. (NASDAQ:CHKP) had its price target hoisted by Stephens from $115.00 to $122.00 in a research report report published on Tuesday morning. Stephens currently has an overweight rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Northland Securities reaffirmed a hold rating and issued a $120.00 target price on shares of Check Point Software Technologies in a report on Thursday, September 28th. Citigroup Inc. upped their target price on shares of Check Point Software Technologies from $111.00 to $112.00 and gave the company a neutral rating in a report on Friday, July 21st. Cowen and Company reaffirmed a buy rating and issued a $113.00 target price on shares of Check Point Software Technologies in a report on Friday, July 21st. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and issued a $128.00 target price on shares of Check Point Software Technologies in a report on Wednesday, July 26th. Finally, Evercore ISI set a $100.00 target price on shares of Check Point Software Technologies and gave the company a hold rating in a report on Friday, August 11th. Seventeen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $111.56.

Check Point Software Technologies (NASDAQ:CHKP) traded up 0.988% during trading on Tuesday, reaching $118.923. The company’s stock had a trading volume of 353,281 shares. The company’s 50 day moving average price is $112.81 and its 200 day moving average price is $109.26. The company has a market cap of $19.42 billion, a P/E ratio of 26.386 and a beta of 0.72. Check Point Software Technologies has a 52 week low of $75.65 and a 52 week high of $119.20.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Thursday, July 20th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.04. The company had revenue of $458.60 million for the quarter, compared to analysts’ expectations of $454.62 million. Check Point Software Technologies had a net margin of 42.17% and a return on equity of 22.02%. Check Point Software Technologies’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS. On average, equities analysts anticipate that Check Point Software Technologies will post $5.18 earnings per share for the current fiscal year.

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Several large investors have recently made changes to their positions in CHKP. State Board of Administration of Florida Retirement System grew its position in shares of Check Point Software Technologies by 5.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,678 shares of the technology company’s stock worth $1,199,000 after purchasing an additional 600 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Check Point Software Technologies by 12.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 287,270 shares of the technology company’s stock worth $29,491,000 after purchasing an additional 32,543 shares in the last quarter. Oxford Asset Management acquired a new position in shares of Check Point Software Technologies during the 1st quarter worth approximately $439,000. Victory Capital Management Inc. grew its position in shares of Check Point Software Technologies by 921.0% during the 1st quarter. Victory Capital Management Inc. now owns 7,525 shares of the technology company’s stock worth $772,000 after purchasing an additional 6,788 shares in the last quarter. Finally, American International Group Inc. grew its position in shares of Check Point Software Technologies by 8.6% during the 1st quarter. American International Group Inc. now owns 25,766 shares of the technology company’s stock worth $2,645,000 after purchasing an additional 2,040 shares in the last quarter. Hedge funds and other institutional investors own 67.83% of the company’s stock.

About Check Point Software Technologies

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

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