Check Point Software Technologies (NASDAQ:CHKP) Given New $225.00 Price Target at Wells Fargo & Company

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Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) had its price objective reduced by research analysts at Wells Fargo & Company from $265.00 to $225.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. Wells Fargo & Company's target price would indicate a potential upside of 21.36% from the company's previous close.

CHKP has been the subject of a number of other research reports. Wall Street Zen raised shares of Check Point Software Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Stephens dropped their price objective on shares of Check Point Software Technologies from $229.00 to $210.00 and set an "equal weight" rating for the company in a research note on Thursday. Cantor Fitzgerald set a $220.00 price objective on shares of Check Point Software Technologies and gave the company a "neutral" rating in a research note on Thursday. UBS Group dropped their price target on shares of Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Wedbush reissued an "outperform" rating and issued a $240.00 price target on shares of Check Point Software Technologies in a research note on Thursday, April 24th. Fifteen investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $228.29.

Check Point Software Technologies Trading Down 0.7%

Shares of Check Point Software Technologies stock traded down $1.27 during trading hours on Thursday, reaching $185.41. The stock had a trading volume of 1,102,154 shares, compared to its average volume of 913,978. The stock's 50 day moving average is $222.10 and its 200 day moving average is $217.84. The firm has a market capitalization of $20.39 billion, a PE ratio of 24.56, a PEG ratio of 3.12 and a beta of 0.64. Check Point Software Technologies has a twelve month low of $169.01 and a twelve month high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.37 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The business had revenue of $665.20 million during the quarter, compared to the consensus estimate of $663.10 million. Check Point Software Technologies had a net margin of 32.75% and a return on equity of 32.88%. The company's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.17 earnings per share. As a group, sell-side analysts predict that Check Point Software Technologies will post 8.61 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Nemes Rush Group LLC purchased a new position in shares of Check Point Software Technologies in the 4th quarter valued at $25,000. Capital A Wealth Management LLC purchased a new position in Check Point Software Technologies during the 4th quarter worth $29,000. Horizon Investments LLC grew its position in Check Point Software Technologies by 116.4% during the 1st quarter. Horizon Investments LLC now owns 158 shares of the technology company's stock worth $36,000 after purchasing an additional 85 shares during the last quarter. Cromwell Holdings LLC purchased a new position in Check Point Software Technologies during the 1st quarter worth $37,000. Finally, Quarry LP boosted its holdings in shares of Check Point Software Technologies by 100.0% in the fourth quarter. Quarry LP now owns 206 shares of the technology company's stock valued at $38,000 after acquiring an additional 103 shares in the last quarter. 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.

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