Check Point Software Technologies (NASDAQ:CHKP) PT Raised to $230.00 at Wedbush

Check Point Software Technologies (NASDAQ:CHKP) had its target price increased by Wedbush from $200.00 to $230.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Wedbush’s price objective suggests a potential upside of 15.27% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Check Point Software Technologies from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Evercore ISI raised Check Point Software Technologies to a “hold” rating in a research report on Monday, September 16th. Royal Bank of Canada upped their target price on Check Point Software Technologies from $165.00 to $187.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Finally, Jefferies Financial Group boosted their price target on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Sixteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $186.05.

Check Point Software Technologies Stock Up 1.0 %

Shares of NASDAQ CHKP traded up $1.99 during midday trading on Wednesday, reaching $199.53. 43,753 shares of the company’s stock traded hands, compared to its average volume of 666,180. The company has a market cap of $22.53 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 3.05 and a beta of 0.62. The stock’s 50 day simple moving average is $188.65 and its 200-day simple moving average is $170.34. Check Point Software Technologies has a one year low of $126.57 and a one year high of $199.77.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.01. The company had revenue of $627.40 million for the quarter, compared to analyst estimates of $623.19 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.74 earnings per share. Equities analysts predict that Check Point Software Technologies will post 7.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Several hedge funds have recently added to or reduced their stakes in CHKP. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Check Point Software Technologies in the 2nd quarter valued at about $30,000. Concord Wealth Partners purchased a new stake in Check Point Software Technologies in the 1st quarter worth approximately $31,000. Richardson Financial Services Inc. purchased a new stake in Check Point Software Technologies in the 4th quarter worth approximately $33,000. Transcendent Capital Group LLC purchased a new position in shares of Check Point Software Technologies during the 1st quarter valued at approximately $107,000. Finally, Alaska Permanent Fund Corp purchased a new position in shares of Check Point Software Technologies during the 1st quarter valued at approximately $117,000. 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.