Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $230.00

Check Point Software Technologies (NASDAQ:CHKP) had its price target lifted by Cantor Fitzgerald from $220.00 to $230.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other research firms have also recently commented on CHKP. Stephens lowered their price target on shares of Check Point Software Technologies from $255.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Mizuho upped their target price on shares of Check Point Software Technologies from $230.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, June 16th. Morgan Stanley decreased their price objective on shares of Check Point Software Technologies from $235.00 to $220.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Wedbush restated an “outperform” rating and issued a $240.00 price objective on shares of Check Point Software Technologies in a research note on Thursday, April 24th. Finally, Roth Capital began coverage on Check Point Software Technologies in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $215.00 price objective for the company. Sixteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target of $234.24.

Check Point Software Technologies Stock Down 0.9%

Check Point Software Technologies stock opened at $215.48 on Wednesday. The stock has a 50-day moving average price of $222.32 and a 200 day moving average price of $215.97. Check Point Software Technologies has a 52 week low of $169.02 and a 52 week high of $234.36. The company has a market capitalization of $23.70 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 3.11 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The firm had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. During the same period in the prior year, the company earned $2.04 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Research analysts anticipate that Check Point Software Technologies will post 8.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. increased its holdings in shares of Check Point Software Technologies by 184.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company’s stock worth $13,149,000 after purchasing an additional 37,407 shares during the period. Sowell Financial Services LLC bought a new stake in Check Point Software Technologies in the first quarter valued at $301,000. QRG Capital Management Inc. grew its holdings in shares of Check Point Software Technologies by 19.1% in the 1st quarter. QRG Capital Management Inc. now owns 2,442 shares of the technology company’s stock worth $557,000 after purchasing an additional 391 shares during the last quarter. World Investment Advisors grew its position in Check Point Software Technologies by 4.4% during the 4th quarter. World Investment Advisors now owns 30,041 shares of the technology company’s stock worth $5,609,000 after acquiring an additional 1,278 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Check Point Software Technologies by 15.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,937 shares of the technology company’s stock worth $899,000 after acquiring an additional 541 shares during the last quarter. Institutional investors own 98.51% 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.