Wedbush Reaffirms Outperform Rating for Check Point Software Technologies (NASDAQ:CHKP)

Wedbush restated their outperform rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a $185.00 target price on the technology company’s stock.

A number of other research firms have also recently issued reports on CHKP. Susquehanna lifted their target price on shares of Check Point Software Technologies from $190.00 to $200.00 and gave the company a positive rating in a research note on Wednesday, February 7th. Raymond James raised Check Point Software Technologies from a market perform rating to an outperform rating in a research report on Monday, December 18th. UBS Group upped their price target on Check Point Software Technologies from $140.00 to $170.00 and gave the company a neutral rating in a report on Wednesday, January 10th. BMO Capital Markets lifted their price objective on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a market perform rating in a report on Wednesday, February 7th. Finally, Truist Financial raised their target price on Check Point Software Technologies from $170.00 to $175.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $159.70.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $161.73 on Wednesday. The company has a market capitalization of $19.53 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 2.67 and a beta of 0.61. The business’s 50-day moving average is $162.63 and its 200-day moving average is $151.27. Check Point Software Technologies has a fifty-two week low of $117.18 and a fifty-two week high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Tuesday, February 6th. The technology company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.10. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. The company had revenue of $663.50 million during the quarter, compared to the consensus estimate of $662.09 million. During the same quarter in the prior year, the firm earned $2.23 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts expect that Check Point Software Technologies will post 7.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

Several institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC boosted its stake in Check Point Software Technologies by 40.4% during the 1st quarter. Private Advisor Group LLC now owns 3,555 shares of the technology company’s stock worth $492,000 after acquiring an additional 1,023 shares during the last quarter. Yousif Capital Management LLC boosted its position in shares of Check Point Software Technologies by 7.7% during the first quarter. Yousif Capital Management LLC now owns 6,814 shares of the technology company’s stock worth $942,000 after purchasing an additional 485 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Check Point Software Technologies by 12.1% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,715 shares of the technology company’s stock valued at $514,000 after buying an additional 400 shares during the period. Synovus Financial Corp bought a new stake in shares of Check Point Software Technologies in the 1st quarter valued at $210,000. Finally, Cibc World Market Inc. acquired a new stake in Check Point Software Technologies during the 1st quarter worth $3,511,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.