Check Point Software Technologies (NASDAQ:CHKP) Given New $175.00 Price Target at Barclays

Check Point Software Technologies (NASDAQ:CHKP) had its price target boosted by Barclays from $170.00 to $175.00 in a research report released on Friday, Benzinga reports. The firm currently has an equal weight rating on the technology company’s stock.

Several other analysts have also weighed in on the stock. William Blair upgraded shares of Check Point Software Technologies from a market perform rating to an outperform rating in a research report on Wednesday, January 31st. UBS Group increased their price objective on shares of Check Point Software Technologies from $140.00 to $170.00 and gave the stock a neutral rating in a research report on Wednesday, January 10th. Mizuho reaffirmed a neutral rating and issued a $160.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. TD Cowen increased their price target on Check Point Software Technologies from $180.00 to $205.00 and gave the stock an outperform rating in a report on Monday, March 18th. Finally, Wells Fargo & Company boosted their price objective on Check Point Software Technologies from $132.00 to $162.00 and gave the company an equal weight rating in a report on Monday, January 29th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $164.00.

Check Point Software Technologies Stock Down 0.5 %

CHKP stock opened at $150.46 on Friday. The company’s fifty day simple moving average is $161.16 and its 200 day simple moving average is $153.25. Check Point Software Technologies has a 12-month low of $117.18 and a 12-month high of $168.82. The firm has a market cap of $18.17 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.45 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 EPS for the quarter, meeting the consensus estimate of $1.72. The company had revenue of $598.80 million for the quarter, compared to analyst estimates of $595.28 million. Check Point Software Technologies had a return on equity of 31.42% and a net margin of 34.33%. Research analysts expect that Check Point Software Technologies will post 7.85 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its stake in shares of Check Point Software Technologies by 52.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 55,681 shares of the technology company’s stock worth $8,508,000 after buying an additional 19,111 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new position in shares of Check Point Software Technologies in the 4th quarter worth about $1,505,000. Unique Wealth Strategies LLC bought a new position in Check Point Software Technologies during the fourth quarter valued at about $1,005,000. Tritonpoint Wealth LLC purchased a new stake in Check Point Software Technologies during the fourth quarter worth about $2,586,000. Finally, SG Americas Securities LLC raised its position in Check Point Software Technologies by 81.9% in the fourth quarter. SG Americas Securities LLC now owns 27,303 shares of the technology company’s stock worth $4,172,000 after acquiring an additional 12,297 shares during the period. 87.62% of the stock is currently 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.