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

Check Point Software Technologies (NASDAQ:CHKP) had its target price hoisted by equities researchers at Barclays from $200.00 to $230.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target would suggest a potential upside of 5.03% from the company’s previous close.

A number of other research analysts have also issued reports on CHKP. Robert W. Baird dropped their target price on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Scotiabank boosted their price objective on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Royal Bank of Canada restated a “sector perform” rating and set a $187.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Wedbush lifted their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, Mizuho increased their price target on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Seventeen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $206.60.

Check Point Software Technologies Stock Up 7.4 %

NASDAQ:CHKP traded up $15.09 during trading hours on Thursday, reaching $218.99. 2,068,479 shares of the company’s stock were exchanged, compared to its average volume of 813,368. The firm has a market capitalization of $24.08 billion, a price-to-earnings ratio of 29.92, a P/E/G ratio of 3.05 and a beta of 0.63. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $226.03. The company has a 50-day moving average of $187.20 and a 200 day moving average of $187.22.

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

Institutional Trading of Check Point Software Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can raised its stake in Check Point Software Technologies by 32.2% in the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock valued at $16,532,000 after purchasing an additional 20,866 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Check Point Software Technologies during the third quarter worth about $1,599,000. MML Investors Services LLC raised its position in shares of Check Point Software Technologies by 3.7% in the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after buying an additional 3,655 shares during the last quarter. Martin Investment Management LLC lifted its stake in shares of Check Point Software Technologies by 2.0% during the third quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock valued at $31,497,000 after buying an additional 3,225 shares during the period. Finally, Chevy Chase Trust Holdings LLC boosted its position in Check Point Software Technologies by 69.6% during the third quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company’s stock worth $4,502,000 after acquiring an additional 9,580 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

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 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.