Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $190.00 at Stifel Nicolaus

Check Point Software Technologies (NASDAQ:CHKP) had its price target increased by analysts at Stifel Nicolaus from $182.00 to $190.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 3.41% from the company’s previous close.

A number of other equities analysts have also recently issued reports on CHKP. Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $205.00 to $195.00 in a report on Wednesday, October 30th. Wedbush increased their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Robert W. Baird dropped their target price on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $187.00 target price on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Finally, Evercore ISI raised their price target on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $199.05.

Check Point Software Technologies Stock Down 2.1 %

Shares of CHKP stock traded down $3.98 during mid-day trading on Wednesday, reaching $183.73. The stock had a trading volume of 259,346 shares, compared to its average volume of 684,097. The firm’s 50 day simple moving average is $187.89 and its 200 day simple moving average is $181.48. Check Point Software Technologies has a one year low of $145.75 and a one year high of $210.70. The firm has a market cap of $20.21 billion, a PE ratio of 25.10, a P/E/G ratio of 3.21 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. During the same quarter last year, the company earned $1.80 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts forecast that Check Point Software Technologies will post 7.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Check Point Software Technologies by 73.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after purchasing an additional 464,821 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Check Point Software Technologies by 10.5% in the 2nd quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after purchasing an additional 391,983 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Check Point Software Technologies in the 2nd quarter worth $47,244,000. World Investment Advisors LLC bought a new position in shares of Check Point Software Technologies in the 3rd quarter worth $51,922,000. Finally, FMR LLC boosted its position in shares of Check Point Software Technologies by 28.7% in the 3rd quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after purchasing an additional 252,581 shares during the last quarter. 98.51% of the stock is 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.