Check Point Software Technologies (NASDAQ:CHKP) PT Lowered to $165.00

Check Point Software Technologies (NASDAQ:CHKP) had its target price reduced by stock analysts at Stifel Nicolaus from $170.00 to $165.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 9.38% from the stock’s previous close.

CHKP has been the topic of several other reports. Susquehanna lifted their price objective on Check Point Software Technologies from $190.00 to $200.00 and gave the stock a “positive” rating in a report on Wednesday, February 7th. Wedbush reaffirmed an “outperform” rating and issued a $185.00 price target on shares of Check Point Software Technologies in a report on Wednesday, April 10th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Friday. William Blair upgraded shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 31st. Finally, Truist Financial boosted their price objective on Check Point Software Technologies from $170.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and a consensus price target of $164.00.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock traded down $2.10 during midday trading on Friday, hitting $150.85. 718,743 shares of the company’s stock were exchanged, compared to its average volume of 725,128. The firm’s 50 day simple moving average is $161.64 and its 200 day simple moving average is $152.78. Check Point Software Technologies has a 12-month low of $117.18 and a 12-month high of $168.82. The stock has a market cap of $18.22 billion, a price-to-earnings 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 announced its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.72. The business had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. Check Point Software Technologies had a return on equity of 30.81% and a net margin of 34.80%. On average, equities research analysts forecast that Check Point Software Technologies will post 7.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. AE Wealth Management LLC boosted its holdings in shares of 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 worth $902,000 after acquiring an additional 1,022 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in Check Point Software Technologies by 3.6% in the third quarter. Koshinski Asset Management Inc. now owns 2,559 shares of the technology company’s stock worth $341,000 after purchasing an additional 89 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Check Point Software Technologies by 2.5% during the third quarter. Asset Management One Co. Ltd. now owns 88,905 shares of the technology company’s stock worth $11,849,000 after purchasing an additional 2,198 shares during the last quarter. Brookstone Capital Management increased its stake in shares of Check Point Software Technologies by 38.2% in the third 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 in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Check Point Software Technologies by 5.0% in the third quarter. Commonwealth Equity Services LLC now owns 18,467 shares of the technology company’s stock valued at $2,461,000 after buying an additional 872 shares during 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.