Check Point Software Technologies (NASDAQ:CHKP) Stock Rating Reaffirmed by Wedbush

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research note issued on Friday, Benzinga reports. They presently have a $185.00 price objective on the technology company’s stock. Wedbush’s price target suggests a potential upside of 22.35% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Barclays lifted their price objective on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday. Truist Financial boosted their target price on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Mizuho reissued a “neutral” rating and set a $160.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, March 27th. Wells Fargo & Company boosted their target price 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. Finally, Stifel Nicolaus cut their target price on shares of Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating for the company in a research note on Friday. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $164.00.

Check Point Software Technologies Stock Performance

CHKP opened at $151.20 on Friday. Check Point Software Technologies has a fifty-two week low of $117.18 and a fifty-two week high of $168.82. The company has a fifty day moving average of $161.41 and a two-hundred day moving average of $153.01. The stock has a market capitalization of $18.26 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.48 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last released 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. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.30%. The company had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. On average, equities research analysts forecast that Check Point Software Technologies will post 7.85 earnings per share for the current year.

Institutional Trading of Check Point Software Technologies

Several large investors have recently bought and sold shares of CHKP. Ariel Investments LLC grew its stake in Check Point Software Technologies by 121.2% during the 3rd quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock valued at $144,391,000 after acquiring an additional 593,623 shares in the last quarter. Morningstar Investment Services LLC purchased a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at approximately $65,522,000. LSV Asset Management grew its stake in shares of Check Point Software Technologies by 1,535.7% in the 3rd quarter. LSV Asset Management now owns 413,835 shares of the technology company’s stock valued at $55,156,000 after buying an additional 388,535 shares during the period. Boston Trust Walden Corp grew its stake in shares of Check Point Software Technologies by 248.8% in the 4th quarter. Boston Trust Walden Corp now owns 306,201 shares of the technology company’s stock valued at $46,784,000 after buying an additional 218,403 shares during the period. Finally, Norges Bank purchased a new stake in shares of Check Point Software Technologies in the 4th quarter valued at approximately $29,801,000. Hedge funds and other institutional investors 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.