Check Point Software Technologies (CHKP) Price Target Cut to $120.00

Check Point Software Technologies (NASDAQ:CHKP) had its price target lowered by analysts at BMO Capital Markets to $120.00 in a research report issued on Friday, The Fly reports. The brokerage presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 11.52% from the company’s previous close.

Several other brokerages have also recently weighed in on CHKP. BidaskClub upgraded Check Point Software Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 18th. Zacks Investment Research upgraded Check Point Software Technologies from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a report on Tuesday, September 25th. Barclays reiterated a “hold” rating and set a $120.00 price target on shares of Check Point Software Technologies in a report on Thursday, July 26th. Stifel Nicolaus reiterated a “hold” rating and set a $112.00 price target (up previously from $95.00) on shares of Check Point Software Technologies in a report on Thursday, July 26th. Finally, Morgan Stanley lifted their price target on Check Point Software Technologies from $102.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, July 26th. Twenty-three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $115.14.

Shares of NASDAQ CHKP traded down $1.63 during mid-day trading on Friday, hitting $107.60. The company had a trading volume of 23,982 shares, compared to its average volume of 1,264,947. The stock has a market capitalization of $18.38 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 2.24 and a beta of 0.64. Check Point Software Technologies has a one year low of $93.76 and a one year high of $120.81.



Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Wednesday, October 24th. The technology company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.02. The company had revenue of $470.80 million during the quarter, compared to analysts’ expectations of $465.94 million. Check Point Software Technologies had a return on equity of 22.98% and a net margin of 43.43%. Check Point Software Technologies’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. On average, sell-side analysts anticipate that Check Point Software Technologies will post 5.19 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP bought a new stake in shares of Check Point Software Technologies during the second quarter worth approximately $7,695,000. AustralianSuper Pty Ltd boosted its holdings in shares of Check Point Software Technologies by 17.3% during the second quarter. AustralianSuper Pty Ltd now owns 257,000 shares of the technology company’s stock worth $25,104,000 after acquiring an additional 37,900 shares during the period. Swiss National Bank boosted its holdings in shares of Check Point Software Technologies by 1.6% during the second quarter. Swiss National Bank now owns 713,300 shares of the technology company’s stock worth $69,675,000 after acquiring an additional 10,900 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Check Point Software Technologies by 5.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 57,396 shares of the technology company’s stock worth $5,607,000 after acquiring an additional 3,029 shares during the period. Finally, Fort L.P. bought a new stake in shares of Check Point Software Technologies during the second quarter worth approximately $120,000. Institutional investors and hedge funds own 67.11% 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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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