Check Point Software Technologies (NASDAQ:CHKP) PT Raised to $175.00 at Barclays

Check Point Software Technologies (NASDAQ:CHKP) had its price objective raised by Barclays from $170.00 to $175.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

Several other brokerages also recently issued reports on CHKP. Truist Financial raised their price objective on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. UBS Group increased their price objective on 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. Royal Bank of Canada raised their price target on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the stock a sector perform rating in a research report on Wednesday, February 7th. 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. Finally, Scotiabank boosted their price target on Check Point Software Technologies from $170.00 to $180.00 and gave the company a sector outperform rating in a research note 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 company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $164.00.

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP opened at $151.20 on Friday. The company has a 50-day simple moving average of $161.41 and a 200 day simple moving average of $152.89. The company has a market capitalization of $18.26 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. Check Point Software Technologies has a 52-week low of $117.18 and a 52-week high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.72. Check Point Software Technologies had a return on equity of 31.30% and a net margin of 34.33%. The business had revenue of $598.80 million for the quarter, compared to analyst estimates of $595.28 million. As a group, equities analysts forecast 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 modified their holdings of the company. Concord Wealth Partners acquired a new position in Check Point Software Technologies in the third quarter valued at $25,000. CNB Bank acquired a new position in shares of Check Point Software Technologies in the 3rd quarter valued at about $27,000. Bruce G. Allen Investments LLC acquired a new stake in Check Point Software Technologies during the fourth quarter worth approximately $30,000. Richardson Financial Services Inc. acquired a new position in Check Point Software Technologies in the fourth quarter valued at approximately $33,000. Finally, Salem Investment Counselors Inc. grew its position in shares of Check Point Software Technologies by 483.7% during the 4th quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock worth $44,000 after buying an additional 237 shares during the period. Institutional investors and hedge funds own 87.62% 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.