Check Point Software Technologies (NASDAQ:CHKP) Hits New 1-Year High – Here’s Why

Check Point Software Technologies Ltd. (NASDAQ:CHKP)’s stock price reached a new 52-week high on Thursday . The company traded as high as $213.00 and last traded at $217.58, with a volume of 4353 shares. The stock had previously closed at $203.90.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CHKP shares. Stifel Nicolaus boosted their target price on Check Point Software Technologies from $182.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Scotiabank upped their target price on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Bank of America cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $205.00 to $195.00 in a report on Wednesday, October 30th. Citigroup raised their price objective on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $187.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Seventeen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $205.10.

Check Point Software Technologies Stock Up 9.0 %

The firm has a market capitalization of $24.43 billion, a PE ratio of 30.33, a P/E/G ratio of 3.05 and a beta of 0.63. The firm’s 50 day moving average price is $187.20 and its two-hundred day moving average price is $187.22.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The business had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same period in the prior year, the company posted $1.80 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Marks Group Wealth Management Inc acquired a new position in Check Point Software Technologies during the fourth quarter worth about $497,000. Kentucky Trust Co purchased a new position in Check Point Software Technologies in the 4th quarter worth about $400,000. Stoneridge Investment Partners LLC acquired a new stake in Check Point Software Technologies during the 4th quarter worth about $800,000. Moloney Securities Asset Management LLC boosted its holdings in shares of Check Point Software Technologies by 1.2% in the fourth quarter. Moloney Securities Asset Management LLC now owns 5,295 shares of the technology company’s stock worth $989,000 after buying an additional 65 shares during the period. Finally, Kingsview Wealth Management LLC lifted its position in shares of Check Point Software Technologies by 3.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 1,891 shares of the technology company’s stock valued at $353,000 after acquiring an additional 57 shares in the last quarter. Institutional investors 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.