Wedbush Reaffirms Outperform Rating for Check Point Software Technologies (NASDAQ:CHKP)

Wedbush reissued their outperform rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research report report published on Friday morning, Benzinga reports. The firm currently has a $185.00 price objective on the technology company’s stock.

A number of other brokerages have also issued reports on CHKP. TD Cowen raised their target price on shares of 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. Citigroup raised their price objective on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the stock a neutral rating in a research report on Wednesday, January 10th. Needham & Company LLC reaffirmed a hold rating on shares of Check Point Software Technologies in a report on Friday. Susquehanna raised their price target on Check Point Software Technologies from $190.00 to $200.00 and gave the stock a positive rating in a report on Wednesday, February 7th. Finally, Stifel Nicolaus dropped their price target on Check Point Software Technologies from $170.00 to $165.00 and set a hold rating on the stock in a research report on Friday. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $164.00.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $150.46 on Friday. Check Point Software Technologies has a 1-year low of $117.18 and a 1-year high of $168.82. The stock has a market cap of $18.17 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.45 and a beta of 0.61. The firm has a fifty day moving average price of $161.16 and a 200 day moving average price of $153.25.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, meeting the consensus estimate of $1.72. The business had revenue of $598.80 million during the quarter, compared to the consensus estimate of $595.28 million. Check Point Software Technologies had a return on equity of 31.42% and a net margin of 34.33%. As a group, equities analysts expect that Check Point Software Technologies will post 7.85 EPS for the current fiscal year.

Institutional Trading of Check Point Software Technologies

Several institutional investors and hedge funds have recently made changes to their positions in CHKP. BSW Wealth Partners increased its position in Check Point Software Technologies by 3.7% during the 4th quarter. BSW Wealth Partners now owns 2,162 shares of the technology company’s stock worth $330,000 after purchasing an additional 78 shares in the last quarter. Guardian Wealth Management Inc. grew its holdings in shares of Check Point Software Technologies by 0.5% during the fourth quarter. Guardian Wealth Management Inc. now owns 18,633 shares of the technology company’s stock worth $2,847,000 after buying an additional 85 shares in the last quarter. Koshinski Asset Management Inc. grew its holdings in shares of Check Point Software Technologies by 3.6% during the third quarter. Koshinski Asset Management Inc. now owns 2,559 shares of the technology company’s stock worth $341,000 after buying an additional 89 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Check Point Software Technologies by 6.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,383 shares of the technology company’s stock valued at $211,000 after buying an additional 89 shares during the last quarter. Finally, Butensky & Cohen Financial Security Inc. lifted its stake in shares of 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 buying an additional 102 shares during the period. 87.62% of the stock is currently owned by hedge funds and other 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.