Barclays Increases Check Point Software Technologies (NASDAQ:CHKP) Price Target to $175.00

Check Point Software Technologies (NASDAQ:CHKP) had its target price boosted by research analysts at Barclays from $170.00 to $175.00 in a report released on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Barclays‘s target price points to a potential upside of 15.74% from the stock’s current price.

Other equities analysts have also issued research reports about the company. BMO Capital Markets raised their price target on Check Point Software Technologies from $175.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. UBS Group lifted their target price on Check Point Software Technologies from $140.00 to $170.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Royal Bank of Canada lifted their target price on Check Point Software Technologies from $159.00 to $165.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 7th. William Blair upgraded Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 31st. Finally, Wedbush reiterated an “outperform” rating and issued a $185.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, April 10th. Thirteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Check Point Software Technologies currently has an average rating of “Hold” and a consensus price target of $164.00.

Check Point Software Technologies Trading Down 1.1 %

Shares of Check Point Software Technologies stock opened at $151.20 on Friday. The firm has a market cap of $18.26 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.48 and a beta of 0.61. Check Point Software Technologies has a 12 month low of $117.18 and a 12 month high of $168.82. The stock’s fifty day moving average price is $161.41 and its 200-day moving average price is $153.01.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, meeting the consensus estimate of $1.72. The firm had revenue of $598.80 million for the quarter, compared to analyst estimates of $595.28 million. Check Point Software Technologies had a return on equity of 31.30% and a net margin of 34.33%. Analysts forecast that Check Point Software Technologies will post 7.85 earnings per share for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

A number of institutional investors and hedge funds have recently modified their holdings of CHKP. Ariel Investments LLC lifted its holdings in shares of Check Point Software Technologies by 121.2% during the third quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock worth $144,391,000 after purchasing an additional 593,623 shares during the period. Morningstar Investment Services LLC acquired a new position in Check Point Software Technologies in the third quarter valued at approximately $65,522,000. LSV Asset Management lifted its holdings in Check Point Software Technologies by 1,535.7% in the third quarter. LSV Asset Management now owns 413,835 shares of the technology company’s stock valued at $55,156,000 after acquiring an additional 388,535 shares during the period. Boston Trust Walden Corp lifted its holdings in Check Point Software Technologies by 248.8% in the fourth quarter. Boston Trust Walden Corp now owns 306,201 shares of the technology company’s stock valued at $46,784,000 after acquiring an additional 218,403 shares during the period. Finally, Norges Bank acquired a new position in Check Point Software Technologies in the fourth quarter valued at approximately $29,801,000. Institutional investors and hedge funds own 87.62% 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 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.