Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $190.00 at Stifel Nicolaus

Check Point Software Technologies (NASDAQ:CHKP) had its price objective hoisted by equities research analysts at Stifel Nicolaus from $182.00 to $190.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 3.41% from the company’s previous close.

CHKP has been the topic of a number of other reports. Robert W. Baird cut their price target on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Evercore ISI boosted their price target on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Barclays cut their price target on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Bank of America lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and cut their price target for the company from $205.00 to $195.00 in a report on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $199.05.

Check Point Software Technologies Stock Performance

CHKP stock traded down $3.98 during midday trading on Wednesday, hitting $183.73. 259,346 shares of the company’s stock were exchanged, compared to its average volume of 684,097. The stock’s fifty day moving average price is $187.89 and its 200-day moving average price is $181.48. The company has a market cap of $20.21 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63. Check Point Software Technologies has a one year low of $145.75 and a one year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting the consensus estimate of $2.25. The firm had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.80 earnings per share. On average, analysts expect that Check Point Software Technologies will post 7.87 EPS for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

A number of institutional investors have recently made changes to their positions in CHKP. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Check Point Software Technologies by 73.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after acquiring an additional 464,821 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Check Point Software Technologies by 10.5% during the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after acquiring an additional 391,983 shares during the period. Marshall Wace LLP bought a new stake in shares of Check Point Software Technologies during the second quarter worth approximately $47,244,000. World Investment Advisors LLC bought a new stake in shares of Check Point Software Technologies during the third quarter worth approximately $51,922,000. Finally, FMR LLC boosted its holdings in shares of Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after acquiring an additional 252,581 shares during the period. Institutional investors own 98.51% 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.