Robert W. Baird Boosts Check Point Software Technologies (NASDAQ:CHKP) Price Target to $210.00

Check Point Software Technologies (NASDAQ:CHKP) had its price objective raised by analysts at Robert W. Baird from $200.00 to $210.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target indicates a potential upside of 2.30% from the stock’s current price.

A number of other brokerages have also commented on CHKP. Susquehanna raised their price target on Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a report on Thursday, July 25th. Barclays raised their target price on Check Point Software Technologies from $175.00 to $192.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Evercore ISI raised Check Point Software Technologies to a “hold” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. increased their price target on Check Point Software Technologies from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Fifteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $191.44.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP opened at $205.28 on Tuesday. The company’s fifty day moving average is $193.56 and its two-hundred day moving average is $173.06. Check Point Software Technologies has a one year low of $126.57 and a one year high of $210.70. The firm has a market capitalization of $23.18 billion, a P/E ratio of 28.51, a PEG ratio of 3.17 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. The firm had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. Check Point Software Technologies’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.74 EPS. On average, sell-side analysts forecast that Check Point Software Technologies will post 7.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swedbank AB acquired a new position in shares of Check Point Software Technologies during the first quarter worth about $69,487,000. Boston Partners raised its holdings in Check Point Software Technologies by 13.1% during the first 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 raised its stake in Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock valued at $677,869,000 after buying an additional 391,983 shares during the period. Marshall Wace LLP bought a new stake in Check Point Software Technologies in the second quarter valued at approximately $47,244,000. Finally, Meitav Investment House Ltd. raised its stake in Check Point Software Technologies by 1,295.8% in the second quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company’s stock valued at $34,557,000 after buying an additional 194,595 shares during the period. 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.