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

Check Point Software Technologies (NASDAQ:CHKP) had its price objective raised by investment 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 price target suggests a potential upside of 16.58% from the company’s current price.

CHKP has been the subject of a number of other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research report on Friday. Citigroup increased their price target on Check Point Software Technologies from $140.00 to $155.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. William Blair raised Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 31st. UBS Group increased their price objective on Check Point Software Technologies from $140.00 to $170.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Finally, Royal Bank of Canada increased their price objective on Check Point Software Technologies from $159.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 7th. Thirteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $162.16.

Check Point Software Technologies Trading Down 1.9 %

CHKP stock traded down $2.84 during trading hours on Friday, hitting $150.11. 499,585 shares of the stock traded hands, compared to its average volume of 720,484. The stock has a 50-day simple moving average of $161.64 and a 200 day simple moving average of $152.78. Check Point Software Technologies has a one year low of $117.18 and a one year high of $168.82. The company has a market cap of $18.13 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.61 and a beta of 0.61.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHKP. AE Wealth Management LLC grew its holdings in Check Point Software Technologies by 17.8% in the 3rd quarter. AE Wealth Management LLC now owns 6,767 shares of the technology company’s stock valued at $902,000 after buying an additional 1,022 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in Check Point Software Technologies by 3.6% in the 3rd quarter. Koshinski Asset Management Inc. now owns 2,559 shares of the technology company’s stock valued at $341,000 after buying an additional 89 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Check Point Software Technologies by 2.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 88,905 shares of the technology company’s stock valued at $11,849,000 after buying an additional 2,198 shares during the last quarter. Brookstone Capital Management grew its holdings in Check Point Software Technologies by 38.2% in the 3rd quarter. Brookstone Capital Management now owns 6,072 shares of the technology company’s stock valued at $823,000 after buying an additional 1,678 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Check Point Software Technologies by 5.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 18,467 shares of the technology company’s stock worth $2,461,000 after purchasing an additional 872 shares in the last quarter. Institutional investors and hedge funds 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.