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

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 issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Barclays‘s target price indicates a potential upside of 16.58% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. Susquehanna boosted 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. Citigroup boosted their price target on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Royal Bank of Canada boosted their price target on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Wells Fargo & Company boosted 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 report on Monday, January 29th. Finally, Wedbush reissued an “outperform” rating and issued a $185.00 price target on shares of Check Point Software Technologies in a report on Wednesday, April 10th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $162.16.

Check Point Software Technologies Stock Performance

CHKP stock traded down $2.84 during trading on Friday, reaching $150.11. The company had a trading volume of 499,585 shares, compared to its average volume of 720,484. The firm has a 50-day simple moving average of $161.64 and a 200-day simple moving average of $152.78. The company has a market cap of $18.13 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.61 and a beta of 0.61. Check Point Software Technologies has a twelve month low of $117.18 and a twelve month high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, meeting the consensus estimate of $1.72. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. The business had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. Sell-side analysts expect 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

Hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in Check Point Software Technologies by 52.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 55,681 shares of the technology company’s stock worth $8,508,000 after buying an additional 19,111 shares during the period. Prime Capital Investment Advisors LLC purchased a new position in shares of Check Point Software Technologies in the fourth quarter valued at approximately $1,505,000. Tritonpoint Wealth LLC purchased a new position in shares of Check Point Software Technologies in the fourth quarter valued at approximately $2,586,000. SG Americas Securities LLC boosted its stake in shares of Check Point Software Technologies by 81.9% in the fourth quarter. SG Americas Securities LLC now owns 27,303 shares of the technology company’s stock valued at $4,172,000 after purchasing an additional 12,297 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Check Point Software Technologies in the fourth quarter valued at approximately $47,160,000. 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.