Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $185.00

Check Point Software Technologies (NASDAQ:CHKP) had its price objective upped by Evercore ISI from $180.00 to $185.00 in a report published on Wednesday morning, Benzinga reports. They currently have an in-line rating on the technology company’s stock.

A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. BMO Capital Markets lifted their target price on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Jefferies Financial Group raised their price objective on Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Barclays lowered their target price on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Mizuho lifted their price target on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Fifteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Check Point Software Technologies has a consensus rating of “Hold” and a consensus price target of $197.74.

Check Point Software Technologies Stock Performance

NASDAQ CHKP opened at $170.50 on Wednesday. Check Point Software Technologies has a 52-week low of $134.72 and a 52-week high of $210.70. The company has a fifty day moving average of $194.47 and a 200-day moving average of $174.75. The company has a market capitalization of $18.75 billion, a P/E ratio of 23.29, a P/E/G ratio of 2.71 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.25. The firm had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.80 earnings per share. As a group, analysts forecast that Check Point Software Technologies will post 7.84 EPS for the current fiscal 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. Kathleen S. Wright Associates Inc. bought a new stake in shares of Check Point Software Technologies during the 3rd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Check Point Software Technologies during the second quarter valued at $30,000. Concord Wealth Partners bought a new stake in Check Point Software Technologies during the third quarter valued at about $37,000. FSC Wealth Advisors LLC purchased a new stake in Check Point Software Technologies in the third quarter worth about $60,000. Finally, Sound Income Strategies LLC raised its stake in shares of Check Point Software Technologies by 654.4% in the third quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock worth $83,000 after buying an additional 373 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

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.