Check Point Software Technologies (NASDAQ:CHKP) Stock Price Expected to Rise, Barclays Analyst Says

Check Point Software Technologies (NASDAQ:CHKP - Free Report) had its target price hoisted by Barclays from $230.00 to $245.00 in a research note published on Monday morning,Benzinga reports. They currently have an equal weight rating on the technology company's stock.

Several other brokerages also recently weighed in on CHKP. Wells Fargo & Company cut their price target on Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Stephens cut their price target on Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. BMO Capital Markets restated an "outperform" rating and set a $250.00 price target on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Compass Point set a $260.00 price objective on Check Point Software Technologies in a research report on Thursday, March 27th. Finally, Scotiabank lowered their price objective on Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating for the company in a research report on Thursday, April 24th. Sixteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $233.04.

Check Point Software Technologies Price Performance

Shares of CHKP stock traded down $1.90 on Monday, hitting $218.78. The stock had a trading volume of 547,735 shares, compared to its average volume of 789,220. The firm has a market capitalization of $24.06 billion, a P/E ratio of 28.86, a P/E/G ratio of 3.15 and a beta of 0.64. Check Point Software Technologies has a 1 year low of $169.02 and a 1 year high of $234.36. The company's 50 day moving average price is $222.49 and its 200-day moving average price is $215.55.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The company had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. During the same quarter in the prior year, the business earned $2.04 EPS. Check Point Software Technologies's revenue was up 6.5% on a year-over-year basis. On average, equities analysts forecast that Check Point Software Technologies will post 8.61 EPS for the current year.

Institutional Trading of Check Point Software Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nemes Rush Group LLC purchased a new stake in Check Point Software Technologies during the 4th quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new position in Check Point Software Technologies in the 4th quarter valued at approximately $29,000. Horizon Investments LLC increased its stake in Check Point Software Technologies by 116.4% in the 1st quarter. Horizon Investments LLC now owns 158 shares of the technology company's stock valued at $36,000 after purchasing an additional 85 shares in the last quarter. Cromwell Holdings LLC purchased a new position in Check Point Software Technologies in the 1st quarter valued at approximately $37,000. Finally, Abound Financial LLC acquired a new stake in Check Point Software Technologies during the 1st quarter valued at $40,000. 98.51% 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.