Check Point Software Technologies (NASDAQ:CHKP) Earns Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Check Point Software Technologies (NASDAQ:CHKP - Free Report) in a report released on Wednesday morning, Benzinga reports. Wedbush currently has a $185.00 target price on the technology company's stock.

A number of other research firms also recently issued reports on CHKP. Scotiabank increased their target price on shares of 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. Truist Financial raised their price objective on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company a buy rating in a research report on Wednesday, February 7th. BMO Capital Markets boosted their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a market perform rating in a research report on Wednesday, February 7th. Citigroup raised their price target on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the company a neutral rating in a report on Wednesday, January 10th. Finally, Wells Fargo & Company upped their price objective on shares of Check Point Software Technologies from $132.00 to $162.00 and gave the stock an equal weight rating in a report on Monday, January 29th. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $159.70.

Check Point Software Technologies Stock Up 0.5 %

Shares of CHKP traded up $0.90 during mid-day trading on Wednesday, reaching $164.65. The company's stock had a trading volume of 565,292 shares, compared to its average volume of 717,865. The company has a market cap of $19.88 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 2.66 and a beta of 0.61. The business has a fifty day moving average of $162.49 and a 200 day moving average of $150.91. Check Point Software Technologies has a 1 year low of $117.18 and a 1 year high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.10. The firm had revenue of $663.50 million during the quarter, compared to the consensus estimate of $662.09 million. Check Point Software Technologies had a return on equity of 30.81% and a net margin of 34.80%. The business's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.23 EPS. On average, analysts predict that Check Point Software Technologies will post 7.85 earnings per share for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Park Avenue Securities LLC boosted its stake in Check Point Software Technologies by 12.5% during the first quarter. Park Avenue Securities LLC now owns 7,908 shares of the technology company's stock worth $1,297,000 after buying an additional 878 shares in the last quarter. American National Bank bought a new stake in Check Point Software Technologies in the first quarter valued at about $328,000. Alaska Permanent Fund Corp acquired a new position in Check Point Software Technologies in the first quarter worth about $117,000. First Hawaiian Bank lifted its stake in Check Point Software Technologies by 150.9% during the first quarter. First Hawaiian Bank now owns 3,325 shares of the technology company's stock worth $545,000 after purchasing an additional 2,000 shares during the period. Finally, Butensky & Cohen Financial Security Inc. boosted its holdings in Check Point Software Technologies by 0.4% during the first quarter. Butensky & Cohen Financial Security Inc. now owns 26,472 shares of the technology company's stock valued at $4,342,000 after purchasing an additional 102 shares in the last quarter. 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.