Check Point Software Technologies (NASDAQ:CHKP) PT Raised to $200.00 at Wedbush

Check Point Software Technologies (NASDAQ:CHKP) had its target price upped by equities research analysts at Wedbush from $185.00 to $200.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Wedbush’s target price suggests a potential upside of 9.15% from the stock’s current price.

Several other research firms have also recently weighed in on CHKP. JPMorgan Chase & Co. lifted their price target on Check Point Software Technologies from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday. Stifel Nicolaus dropped their price target on 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 raised Check Point Software Technologies to a “hold” rating in a report on Tuesday, May 14th. Susquehanna lifted their price target on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a report on Thursday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Thursday. Fourteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $177.24.

Check Point Software Technologies Price Performance

CHKP stock traded up $3.16 during mid-day trading on Thursday, reaching $183.23. The company had a trading volume of 190,631 shares, compared to its average volume of 704,946. The stock has a 50 day simple moving average of $160.63 and a two-hundred day simple moving average of $159.86. The company has a market capitalization of $20.69 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 2.68 and a beta of 0.62. Check Point Software Technologies has a 52 week low of $125.68 and a 52 week high of $184.67.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.42% and a net margin of 34.33%. 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 firm posted $1.74 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. On average, equities analysts predict that Check Point Software Technologies will post 7.79 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Check Point Software Technologies during the 2nd quarter worth approximately $30,000. Concord Wealth Partners bought a new stake in Check Point Software Technologies during the 1st quarter worth approximately $31,000. Richardson Financial Services Inc. bought a new stake in Check Point Software Technologies during the 4th quarter worth approximately $33,000. Y.D. More Investments Ltd increased its holdings in Check Point Software Technologies by 37.0% during the 4th quarter. Y.D. More Investments Ltd now owns 500 shares of the technology company’s stock worth $76,000 after purchasing an additional 135 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Check Point Software Technologies during the 4th quarter worth approximately $92,000. 87.62% of the stock is owned by institutional investors and hedge funds.

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.