Check Point Software Technologies (NASDAQ:CHKP) PT Lowered to $165.00

Check Point Software Technologies (NASDAQ:CHKP) had its price target cut by analysts at Stifel Nicolaus from $170.00 to $165.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 9.13% from the stock’s current price.

A number of other research analysts also recently issued reports on CHKP. Wells Fargo & Company lifted their price target on shares of Check Point Software Technologies from $132.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Citigroup boosted their price objective on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research report on Friday. BMO Capital Markets boosted their price objective on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada boosted their price objective on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 7th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $164.00.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $151.20 on Friday. Check Point Software Technologies has a 1-year low of $117.18 and a 1-year high of $168.82. The stock has a market cap of $18.26 billion, a PE ratio of 21.00, a P/E/G ratio of 2.48 and a beta of 0.61. The firm has a 50-day simple moving average of $161.41 and a two-hundred day simple moving average of $153.01.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.72. The firm had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.30%. As a group, sell-side analysts expect that Check Point Software Technologies will post 7.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CHKP. Ariel Investments LLC increased its position in Check Point Software Technologies by 121.2% in the 3rd quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock worth $144,391,000 after buying an additional 593,623 shares during the period. Morningstar Investment Services LLC bought a new position in Check Point Software Technologies in the 3rd quarter worth approximately $65,522,000. LSV Asset Management increased its position in shares of Check Point Software Technologies by 1,535.7% during the third quarter. LSV Asset Management now owns 413,835 shares of the technology company’s stock valued at $55,156,000 after purchasing an additional 388,535 shares during the period. Boston Trust Walden Corp increased its position in shares of Check Point Software Technologies by 248.8% during the fourth quarter. Boston Trust Walden Corp now owns 306,201 shares of the technology company’s stock valued at $46,784,000 after purchasing an additional 218,403 shares during the period. Finally, Norges Bank bought a new stake in shares of Check Point Software Technologies during the fourth quarter valued at approximately $29,801,000. 87.62% of the stock is owned by 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.