Robert W. Baird Raises Check Point Software Technologies (NASDAQ:CHKP) Price Target to $200.00

Check Point Software Technologies (NASDAQ:CHKP) had its price target increased by Robert W. Baird from $168.00 to $200.00 in a report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

CHKP has been the subject of several other reports. Barclays raised their target price on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the stock an equal weight rating in a report on Friday, April 26th. Needham & Company LLC reiterated a hold rating on shares of Check Point Software Technologies in a report on Friday, April 26th. Stifel Nicolaus decreased their target price on shares of Check Point Software Technologies from $170.00 to $165.00 and set a hold rating for the company in a report on Friday, April 26th. KeyCorp upgraded shares of Check Point Software Technologies to a hold rating in a report on Tuesday, May 14th. Finally, Wedbush restated an outperform rating and set a $185.00 price target on shares of Check Point Software Technologies in a report on Friday, April 26th. Fifteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $183.68.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $182.74 on Thursday. Check Point Software Technologies has a 12-month low of $125.68 and a 12-month high of $184.67. The firm’s 50 day moving average is $161.86 and its 200-day moving average is $160.31. The stock has a market capitalization of $20.63 billion, a P/E ratio of 25.38, a P/E/G ratio of 2.89 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The company had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. During the same period last year, the company posted $1.74 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts forecast that Check Point Software Technologies will post 7.8 EPS for the current fiscal year.

Institutional Trading of Check Point Software Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. Argonautica Private Wealth Management Inc. raised its position in shares of Check Point Software Technologies by 1.3% in the second quarter. Argonautica Private Wealth Management Inc. now owns 5,928 shares of the technology company’s stock valued at $978,000 after purchasing an additional 78 shares during the period. Simmons Bank raised its position in shares of Check Point Software Technologies by 11.2% in the second quarter. Simmons Bank now owns 28,895 shares of the technology company’s stock valued at $4,768,000 after purchasing an additional 2,901 shares during the period. Patriot Financial Group Insurance Agency LLC raised its position in shares of Check Point Software Technologies by 16.0% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 5,336 shares of the technology company’s stock valued at $880,000 after purchasing an additional 735 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Check Point Software Technologies by 7.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 15,569 shares of the technology company’s stock valued at $2,569,000 after purchasing an additional 1,077 shares during the period. Finally, ARK Investment Management LLC raised its position in shares of Check Point Software Technologies by 1.8% in the second quarter. ARK Investment Management LLC now owns 13,669 shares of the technology company’s stock valued at $2,255,000 after purchasing an additional 241 shares during the period. 87.62% of the stock is currently 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.