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

Check Point Software Technologies (NASDAQ:CHKP) had its price target lifted by Barclays from $170.00 to $175.00 in a report published on Friday, Benzinga reports. Barclays currently has an equal weight rating on the technology company’s stock.

Several other analysts have also recently weighed in on the stock. Citigroup raised their target price 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. Mizuho reaffirmed a neutral rating and issued a $160.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, March 27th. William Blair upgraded Check Point Software Technologies from a market perform rating to an outperform rating in a research report on Wednesday, January 31st. BMO Capital Markets raised their price objective on Check Point Software Technologies from $175.00 to $185.00 and gave the company a market perform rating in a research report on Wednesday, February 7th. Finally, TD Cowen lifted their target price 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. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Check Point Software Technologies currently has an average rating of Hold and a consensus target price of $164.00.

Check Point Software Technologies Stock Performance

CHKP opened at $151.20 on Friday. The company has a fifty day moving average of $161.41 and a two-hundred day moving average of $152.89. The stock has a market capitalization of $18.26 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.48 and a beta of 0.61. Check Point Software Technologies has a fifty-two week low of $117.18 and a fifty-two week high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.72. The firm had revenue of $598.80 million for the quarter, compared to analyst estimates of $595.28 million. Check Point Software Technologies had a return on equity of 31.30% and a net margin of 34.33%. On average, equities research analysts forecast that Check Point Software Technologies will post 7.85 earnings per share for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

A number of large investors have recently made changes to their positions in the company. Concord Wealth Partners purchased a new stake in shares of Check Point Software Technologies in the third quarter valued at $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Check Point Software Technologies in the 4th quarter valued at $30,000. CNB Bank bought a new stake in Check Point Software Technologies in the third quarter worth $27,000. Richardson Financial Services Inc. acquired a new position in Check Point Software Technologies during the fourth quarter worth $33,000. Finally, Salem Investment Counselors Inc. raised its stake in shares of Check Point Software Technologies by 483.7% in the 4th quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock valued at $44,000 after acquiring an additional 237 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.