Check Point Software Technologies (NASDAQ:CHKP) Given New $205.00 Price Target at Robert W. Baird

Check Point Software Technologies (NASDAQ:CHKP) had its price objective decreased by equities researchers at Robert W. Baird from $210.00 to $205.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target indicates a potential upside of 18.35% from the company’s previous close.

CHKP has been the topic of a number of other research reports. Evercore ISI upgraded Check Point Software Technologies to a “hold” rating in a research report on Monday, September 16th. Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and cut their target price for the stock from $205.00 to $195.00 in a research report on Wednesday. Royal Bank of Canada lifted their target price on Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Truist Financial lifted their target price on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Thursday, July 25th. Fifteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $197.74.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock opened at $173.21 on Wednesday. Check Point Software Technologies has a 1-year low of $129.13 and a 1-year high of $210.70. The stock has a market cap of $19.05 billion, a PE ratio of 23.92, a P/E/G ratio of 3.17 and a beta of 0.62. The stock’s fifty day moving average is $194.87 and its two-hundred day moving average is $174.66.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The company had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. During the same period last year, the firm earned $1.80 earnings per share. Check Point Software Technologies’s quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts expect that Check Point Software Technologies will post 7.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Several institutional investors have recently modified their holdings of CHKP. Swedbank AB purchased a new stake in shares of Check Point Software Technologies during the 1st quarter worth approximately $69,487,000. Boston Partners boosted its stake in shares of Check Point Software Technologies by 13.1% during the 1st quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after acquiring an additional 419,404 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Check Point Software Technologies by 10.5% during the 2nd 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 in the last quarter. Marshall Wace LLP purchased a new stake in shares of Check Point Software Technologies during the 2nd quarter worth approximately $47,244,000. Finally, Meitav Investment House Ltd. boosted its stake in shares of Check Point Software Technologies by 1,295.8% during the 2nd quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company’s stock worth $34,557,000 after acquiring an additional 194,595 shares in the last quarter. Hedge funds and other institutional investors own 87.62% 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.