Wedbush Reaffirms “Outperform” Rating for Check Point Software Technologies (NASDAQ:CHKP)

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a note issued to investors on Friday, Benzinga reports. They currently have a $185.00 target price on the technology company’s stock. Wedbush’s target price points to a potential upside of 22.64% from the stock’s previous close.

CHKP has been the subject of several other reports. Mizuho reiterated a “neutral” rating and issued a $160.00 price target on shares of Check Point Software Technologies in a report on Wednesday, March 27th. 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 report on Wednesday, January 10th. Scotiabank lifted their price objective on Check Point Software Technologies from $170.00 to $180.00 and gave the stock a “sector outperform” rating in a report on Wednesday, February 7th. Truist Financial upped their target price on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, Barclays raised their price objective on Check Point Software Technologies from $170.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Hold” and an average target price of $164.00.

Check Point Software Technologies Stock Performance

NASDAQ CHKP traded down $2.10 during trading hours on Friday, hitting $150.85. 718,743 shares of the company’s stock were exchanged, compared to its average volume of 725,128. Check Point Software Technologies has a 12-month low of $117.18 and a 12-month high of $168.82. The business’s 50 day moving average is $161.64 and its 200-day moving average is $152.78. The firm has a market capitalization of $18.22 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 2.61 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, hitting the consensus estimate of $1.72. The firm had revenue of $598.80 million during the quarter, compared to analyst estimates of $595.28 million. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. As a group, equities research analysts anticipate that Check Point Software Technologies will post 7.85 EPS for the current fiscal year.

Institutional Trading of Check Point Software Technologies

A number of institutional investors have recently made changes to their positions in the stock. Ariel Investments LLC increased its stake in shares of Check Point Software Technologies by 121.2% in the third quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock worth $144,391,000 after purchasing an additional 593,623 shares during the period. Morningstar Investment Services LLC acquired a new position in shares of Check Point Software Technologies during the third quarter worth approximately $65,522,000. LSV Asset Management boosted its position in shares of Check Point Software Technologies by 1,535.7% in the third quarter. LSV Asset Management now owns 413,835 shares of the technology company’s stock valued at $55,156,000 after acquiring an additional 388,535 shares during the period. Boston Trust Walden Corp grew its stake in shares of Check Point Software Technologies by 248.8% in the fourth quarter. Boston Trust Walden Corp now owns 306,201 shares of the technology company’s stock worth $46,784,000 after acquiring an additional 218,403 shares during the last quarter. Finally, Norges Bank bought a new position in Check Point Software Technologies during the fourth quarter worth $29,801,000. 87.62% 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.