Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $150.00

Check Point Software Technologies (NASDAQ:CHKP) had its price objective lifted by UBS Group from $145.00 to $150.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other equities analysts have also commented on CHKP. Roth Capital set a $105.00 price target on shares of Check Point Software Technologies in a research report on Friday, July 31st. Wedbush downgraded shares of Check Point Software Technologies from an “outperform” rating to a “neutral” rating and set a $135.00 target price on the stock. in a research report on Thursday, September 10th. Raymond James Financial cut shares of Check Point Software Technologies from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 15th. BTIG Research reissued a “neutral” rating on shares of Check Point Software Technologies in a report on Tuesday. Finally, Susquehanna upped their price objective on shares of Check Point Software Technologies from $150.00 to $165.00 and gave the company a “positive” rating in a research report on Tuesday. Ten research analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $151.32.

Check Point Software Technologies Price Performance

Shares of CHKP stock opened at $148.18 on Tuesday. The stock has a 50 day moving average of $138.58 and a two-hundred day moving average of $140.90. The company has a current ratio of 1.60, a quick ratio of 1.67 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $15.13 billion, a P/E ratio of 17.83, a P/E/G ratio of 4.22 and a beta of 0.43. Check Point Software Technologies has a 12 month low of $112.23 and a 12 month high of $206.43.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Monday, November 2nd. The technology company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. The business had revenue of $669.80 million for the quarter, compared to analyst estimates of $672.06 million. Check Point Software Technologies had a net margin of 31.74% and a return on equity of 34.08%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.94 EPS. As a group, equities analysts expect that Check Point Software Technologies will post 8.45 EPS for the current year.

Insider Activity at Check Point Software Technologies

In related news, insider Nataly Kremer sold 3,185 shares of the firm’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $150.08, for a total transaction of $478,004.80. Following the sale, the insider directly owned 19,347 shares in the company, valued at $2,903,597.76. This trade represents a 14.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Check Point Software Technologies

A number of large investors have recently added to or reduced their stakes in the company. Assetmark Inc. raised its stake in shares of Check Point Software Technologies by 5.1% in the 1st quarter. Assetmark Inc. now owns 223,868 shares of the technology company’s stock valued at $31,980,000 after purchasing an additional 10,903 shares during the period. Junto Capital Management LP bought a new stake in shares of Check Point Software Technologies in the second quarter valued at about $72,445,000. Renaissance Technologies LLC bought a new stake in shares of Check Point Software Technologies in the first quarter valued at about $34,171,000. Lazard Asset Management LLC boosted its position in shares of Check Point Software Technologies by 16.2% during the first quarter. Lazard Asset Management LLC now owns 809,115 shares of the technology company’s stock worth $115,582,000 after buying an additional 112,713 shares during the period. Finally, Robertson Stephens Wealth Management LLC boosted its position in shares of Check Point Software Technologies by 180.4% during the third quarter. Robertson Stephens Wealth Management LLC now owns 22,769 shares of the technology company’s stock worth $2,922,000 after buying an additional 14,648 shares during the period. Institutional investors own 98.51% of the company’s stock.

About Check Point Software Technologies

Check Point Software Technologies Ltd. is a cybersecurity company that develops products and services designed to protect organizations, governments and consumers from cyber threats. Its offerings help secure networks, cloud environments, endpoints, mobile devices, data and remote access, with capabilities including threat prevention, firewall protection, intrusion prevention, email security and security management.

The company organizes its portfolio under platforms that include Quantum for network security, CloudGuard for cloud security and Harmony for user, endpoint and remote-access protection.