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

Check Point Software Technologies (NASDAQ:CHKP) had its target price increased by equities research analysts at Barclays from $200.00 to $230.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target would indicate a potential upside of 5.03% from the company’s previous close.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Robert W. Baird lowered their price objective on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Citigroup upped their price target on Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Evercore ISI raised their price target on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Guggenheim reiterated a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 24th. Seventeen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $206.60.

Check Point Software Technologies Price Performance

NASDAQ CHKP traded up $15.09 on Thursday, hitting $218.99. The company had a trading volume of 2,068,479 shares, compared to its average volume of 813,368. The company’s fifty day moving average price is $187.20 and its 200-day moving average price is $187.22. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $226.03. The company has a market capitalization of $24.08 billion, a PE ratio of 29.92, a PEG ratio of 3.05 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. During the same period in the prior year, the business earned $1.80 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Check Point Software Technologies will post 7.87 EPS for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

Several institutional investors have recently added to or reduced their stakes in CHKP. Copperleaf Capital LLC increased its stake in Check Point Software Technologies by 4.1% in the fourth quarter. Copperleaf Capital LLC now owns 6,724 shares of the technology company’s stock valued at $1,255,000 after purchasing an additional 264 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at $35,000. Allworth Financial LP grew its position in shares of Check Point Software Technologies by 22.0% in the 4th quarter. Allworth Financial LP now owns 611 shares of the technology company’s stock valued at $119,000 after buying an additional 110 shares during the last quarter. Hickory Asset Management Inc. acquired a new stake in Check Point Software Technologies during the 4th quarter worth $476,000. Finally, Marks Group Wealth Management Inc acquired a new stake in Check Point Software Technologies during the 4th quarter worth $497,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

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.