Check Point Software Technologies (NASDAQ:CHKP) Given New $230.00 Price Target at Barclays

Check Point Software Technologies (NASDAQ:CHKP) had its price target upped by Barclays from $200.00 to $230.00 in a research note published on Thursday,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

CHKP has been the topic of several other research reports. JPMorgan Chase & Co. upped their price target on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Robert W. Baird lowered 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. Guggenheim reissued a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 24th. Wedbush raised their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group boosted their price target on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Seventeen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and an average target price of $206.60.

Check Point Software Technologies Stock Up 7.4 %

CHKP stock opened at $218.99 on Thursday. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $226.03. The firm has a market capitalization of $24.09 billion, a PE ratio of 29.92, a PEG ratio of 3.05 and a beta of 0.63. The stock has a 50-day simple moving average of $187.20 and a two-hundred day simple moving average of $187.22.

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 analysts’ consensus estimates of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same quarter in the prior year, the firm posted $1.80 EPS. Check Point Software Technologies’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts anticipate that Check Point Software Technologies will post 7.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CHKP. Bank of Montreal Can grew its holdings in Check Point Software Technologies by 32.2% in the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after acquiring an additional 20,866 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Check Point Software Technologies in the third quarter worth about $1,599,000. MML Investors Services LLC increased its holdings in Check Point Software Technologies by 3.7% during the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after purchasing an additional 3,655 shares during the period. Martin Investment Management LLC raised its position in Check Point Software Technologies by 2.0% during the 3rd quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock valued at $31,497,000 after purchasing an additional 3,225 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its position in Check Point Software Technologies by 69.6% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company’s stock valued at $4,502,000 after purchasing an additional 9,580 shares during the last quarter. 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.