Wedbush Boosts Check Point Software Technologies (NASDAQ:CHKP) Price Target to $230.00

Check Point Software Technologies (NASDAQ:CHKP) had its target price raised by Wedbush from $200.00 to $230.00 in a research report sent to investors on Wednesday, Benzinga reports. Wedbush currently has an outperform rating on the technology company’s stock.

Several other research firms also recently weighed in on CHKP. JPMorgan Chase & Co. lifted their target price on shares of Check Point Software Technologies from $175.00 to $180.00 and gave the stock a neutral rating in a research report on Thursday, July 25th. Truist Financial restated a buy rating and issued a $200.00 target price (up previously from $175.00) on shares of Check Point Software Technologies in a report on Thursday, July 25th. Robert W. Baird lifted their price target on Check Point Software Technologies from $168.00 to $200.00 and gave the company a neutral rating in a report on Thursday, July 25th. Barclays boosted their price objective on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the company an equal weight rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets increased their target price on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a market perform rating in a research report on Thursday, July 25th. Sixteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $186.05.

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP opened at $208.54 on Wednesday. The company has a market capitalization of $22.94 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62. The stock has a fifty day moving average of $190.16 and a 200-day moving average of $171.20. Check Point Software Technologies has a one year low of $126.57 and a one year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The business had revenue of $627.40 million during the quarter, compared to the consensus estimate of $623.19 million. During the same period in the prior year, the business posted $1.74 earnings per share. Check Point Software Technologies’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that Check Point Software Technologies will post 7.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

Large investors have recently made changes to their positions in the business. Creative Planning increased its position in Check Point Software Technologies by 14.4% in the 3rd quarter. Creative Planning now owns 21,184 shares of the technology company’s stock worth $4,084,000 after buying an additional 2,674 shares during the period. CX Institutional bought a new position in Check Point Software Technologies during the third quarter worth $190,000. Kathleen S. Wright Associates Inc. acquired a new position in Check Point Software Technologies during the 3rd quarter valued at $33,000. Sound Income Strategies LLC boosted its holdings in Check Point Software Technologies by 654.4% in the 3rd quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock valued at $83,000 after purchasing an additional 373 shares during the period. Finally, Koshinski Asset Management Inc. grew its position in Check Point Software Technologies by 10.0% in the 3rd quarter. Koshinski Asset Management Inc. now owns 3,016 shares of the technology company’s stock worth $582,000 after purchasing an additional 273 shares during the last quarter. Institutional investors and hedge funds own 87.62% 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.