Barclays Forecasts Strong Price Appreciation for Check Point Software Technologies (NASDAQ:CHKP) Stock

Check Point Software Technologies (NASDAQ:CHKP) had its target price upped by Barclays from $200.00 to $230.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target suggests a potential upside of 5.49% from the stock’s current price.

Several other research analysts have also issued reports on CHKP. Mizuho increased their price target on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. The Goldman Sachs Group cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $204.00 to $207.00 in a research note on Thursday, January 2nd. Evercore ISI increased their price target on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Finally, Wedbush upped their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Nineteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $215.27.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $218.02 on Thursday. The business has a fifty day moving average price of $187.94 and a two-hundred day moving average price of $187.44. The stock has a market capitalization of $23.98 billion, a PE ratio of 29.78, a PEG ratio of 3.19 and a beta of 0.63. Check Point Software Technologies has a fifty-two week low of $145.75 and a fifty-two week high of $226.02.

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. During the same period in the prior year, the business posted $1.80 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Check Point Software Technologies will post 7.87 earnings per share for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

Institutional investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew its position in Check Point Software Technologies by 10.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock worth $354,153,000 after purchasing an additional 177,104 shares during the period. FMR LLC lifted its holdings in Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after purchasing an additional 252,581 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Check Point Software Technologies by 73.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after buying an additional 464,821 shares in the last quarter. Boston Trust Walden Corp boosted its stake in Check Point Software Technologies by 26.9% during the 4th quarter. Boston Trust Walden Corp now owns 487,283 shares of the technology company’s stock worth $90,976,000 after purchasing an additional 103,388 shares during the last quarter. Finally, Swedbank AB raised its holdings in Check Point Software Technologies by 1.1% in the 4th quarter. Swedbank AB now owns 428,042 shares of the technology company’s stock valued at $79,915,000 after acquiring an additional 4,760 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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.