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 trimmed by Robert W. Baird from $210.00 to $205.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

CHKP has been the topic of a number of other reports. Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and cut their price target for the stock from $205.00 to $195.00 in a report on Wednesday. Evercore ISI upgraded Check Point Software Technologies to a “hold” rating in a report on Monday, September 16th. Truist Financial upped 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. Wedbush upped their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group upped their target price on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Fifteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Hold” and a consensus target price of $197.74.

Check Point Software Technologies Price Performance

Shares of CHKP stock opened at $170.50 on Wednesday. The business’s 50 day simple moving average is $194.47 and its 200 day simple moving average is $174.87. Check Point Software Technologies has a one year low of $134.72 and a one year high of $210.70. The stock has a market capitalization of $18.75 billion, a PE ratio of 23.29, a PEG ratio of 2.71 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting the consensus estimate of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The business had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.80 earnings per share. As a group, research analysts expect that Check Point Software Technologies will post 7.84 earnings per share for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

Several large investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its position in shares of Check Point Software Technologies by 2.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock valued at $912,070,000 after purchasing an additional 114,938 shares during the last quarter. Acadian Asset Management LLC grew 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 during the period. Boston Partners grew 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 during the period. Ninety One UK Ltd grew its stake in shares of Check Point Software Technologies by 1.1% during the 2nd quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock worth $595,450,000 after acquiring an additional 39,092 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Check Point Software Technologies by 3.0% during the 1st quarter. Nordea Investment Management AB now owns 2,674,761 shares of the technology company’s stock worth $440,266,000 after acquiring an additional 77,849 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

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.