Check Point Software Technologies (NASDAQ:CHKP) Price Target Increased to $175.00 by Analysts at Barclays

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) had its price target hoisted by research analysts at Barclays from $170.00 to $175.00 in a research report issued on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the technology company's stock. Barclays's price target would suggest a potential upside of 15.74% from the company's previous close.

A number of other brokerages have also recently commented on CHKP. Scotiabank boosted their price target on Check Point Software Technologies from $170.00 to $180.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, February 7th. Mizuho restated a "neutral" rating and set a $160.00 price target on shares of Check Point Software Technologies in a report on Wednesday, March 27th. TD Cowen lifted their price target on Check Point Software Technologies from $180.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, March 18th. Wells Fargo & Company increased their price objective on shares of Check Point Software Technologies from $132.00 to $162.00 and gave the company an "equal weight" rating in a research report on Monday, January 29th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Check Point Software Technologies in a report on Friday. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Check Point Software Technologies has an average rating of "Hold" and a consensus price target of $164.00.

Check Point Software Technologies Price Performance

CHKP stock traded down $1.75 during trading on Friday, reaching $151.20. The company had a trading volume of 1,275,456 shares, compared to its average volume of 732,373. Check Point Software Technologies has a 52 week low of $117.18 and a 52 week high of $168.82. The business has a 50 day moving average of $161.41 and a 200 day moving average of $152.89. The company has a market cap of $18.26 billion, a P/E ratio of 21.24, a PEG ratio of 2.61 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, hitting the consensus estimate of $1.72. Check Point Software Technologies had a return on equity of 30.81% and a net margin of 34.80%. The company had revenue of $598.80 million for the quarter, compared to analysts' expectations of $595.28 million. Research analysts expect that Check Point Software Technologies will post 7.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CHKP. Ariel Investments LLC raised its holdings in Check Point Software Technologies by 121.2% in the 3rd quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company's stock worth $144,391,000 after purchasing an additional 593,623 shares during the period. Morningstar Investment Services LLC purchased a new position in shares of Check Point Software Technologies during the 3rd quarter valued at about $65,522,000. LSV Asset Management grew its stake in shares of Check Point Software Technologies by 1,535.7% during the 3rd quarter. LSV Asset Management now owns 413,835 shares of the technology company's stock valued at $55,156,000 after acquiring an additional 388,535 shares during the period. Boston Trust Walden Corp increased its holdings in Check Point Software Technologies by 248.8% in the 4th quarter. Boston Trust Walden Corp now owns 306,201 shares of the technology company's stock worth $46,784,000 after acquiring an additional 218,403 shares in the last quarter. Finally, Norges Bank bought a new stake in Check Point Software Technologies during the 4th quarter worth approximately $29,801,000. 87.62% of the stock is currently owned by institutional investors.

About Check Point Software Technologies

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.