Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $230.00 at Barclays

Check Point Software Technologies (NASDAQ:CHKP) had its target price boosted by Barclays from $200.00 to $230.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

Several other equities research analysts also recently commented on the company. Jefferies Financial Group boosted their target price on Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus increased their price objective on shares of Check Point Software Technologies from $182.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Piper Sandler lifted their target price on shares of Check Point Software Technologies from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Evercore ISI increased their price target on shares of 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. Finally, Scotiabank boosted their price objective on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Seventeen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $206.60.

Check Point Software Technologies Price Performance

NASDAQ:CHKP opened at $218.99 on Thursday. The firm has a market capitalization of $24.09 billion, a P/E ratio of 29.92, a PEG ratio of 3.05 and a beta of 0.63. Check Point Software Technologies has a one year low of $145.75 and a one year high of $226.03. The company’s 50-day simple moving average is $187.20 and its 200 day simple moving average is $187.22.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results 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 firm had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. During the same period in the previous year, the firm posted $1.80 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts expect 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 modified their holdings of the stock. Bank of Montreal Can lifted its position in Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock valued at $16,532,000 after purchasing an additional 20,866 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Check Point Software Technologies in the third quarter worth about $1,599,000. MML Investors Services LLC lifted its position in shares of Check Point Software Technologies by 3.7% during the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after buying an additional 3,655 shares in the last quarter. Martin Investment Management LLC increased its holdings in Check Point Software Technologies by 2.0% in the 3rd quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock worth $31,497,000 after acquiring an additional 3,225 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its stake in Check Point Software Technologies by 69.6% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company’s stock worth $4,502,000 after acquiring an additional 9,580 shares during the period. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

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.