Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $160.00 at Barclays

Check Point Software Technologies (NASDAQ:CHKPGet Rating) had its target price raised by research analysts at Barclays from $145.00 to $160.00 in a report issued on Tuesday, The Fly reports. The firm presently has an “equal weight” rating on the technology company’s stock. Barclays‘s target price indicates a potential upside of 12.10% from the company’s current price.

Several other equities analysts have also recently issued reports on CHKP. StockNews.com started coverage on Check Point Software Technologies in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Morgan Stanley raised their price target on Check Point Software Technologies from $116.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, February 4th. Credit Suisse Group raised their price target on Check Point Software Technologies from $100.00 to $105.00 and gave the company an “underperform” rating in a report on Friday, February 4th. Zacks Investment Research upgraded Check Point Software Technologies from a “sell” rating to a “hold” rating and set a $132.00 price target on the stock in a report on Monday, January 17th. Finally, Citigroup started coverage on Check Point Software Technologies in a report on Monday, January 24th. They issued a “sell” rating and a $115.00 price target on the stock. Six research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target of $136.79.

Shares of CHKP stock opened at $142.73 on Tuesday. The stock’s fifty day moving average is $137.23 and its 200-day moving average is $124.09. The stock has a market capitalization of $19.58 billion, a PE ratio of 23.44, a PEG ratio of 3.04 and a beta of 0.62. Check Point Software Technologies has a 52 week low of $107.85 and a 52 week high of $149.62.

Check Point Software Technologies (NASDAQ:CHKPGet Rating) last announced its earnings results on Thursday, February 3rd. The technology company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. The company had revenue of $599.10 million for the quarter, compared to analysts’ expectations of $586.42 million. Check Point Software Technologies had a return on equity of 25.39% and a net margin of 37.64%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 earnings per share. Equities research analysts forecast that Check Point Software Technologies will post 6.4 earnings per share for the current year.

Large investors have recently bought and sold shares of the business. CAPROCK Group Inc. bought a new stake in Check Point Software Technologies in the 1st quarter valued at $301,000. Private Trust Co. NA raised its holdings in shares of Check Point Software Technologies by 3.1% during the 1st quarter. Private Trust Co. NA now owns 2,509 shares of the technology company’s stock worth $347,000 after buying an additional 76 shares in the last quarter. Richard P Slaughter Associates Inc acquired a new position in shares of Check Point Software Technologies during the 1st quarter worth $2,066,000. Veriti Management LLC raised its holdings in shares of Check Point Software Technologies by 23.2% during the 1st quarter. Veriti Management LLC now owns 4,370 shares of the technology company’s stock worth $604,000 after buying an additional 823 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Check Point Software Technologies by 11.7% in the 1st quarter. Nordea Investment Management AB now owns 3,303,458 shares of the technology company’s stock worth $459,379,000 after purchasing an additional 345,565 shares in the last quarter. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Company Profile (Get Rating)

Check Point Software Technologies Ltd. engages in the development and market of software and hardware solutions for information technology security. Its products include threat prevention, next generation firewalls, mobile security, and security management. The company was founded by Gil Shwed, Marius Nacht, and Shlomo Kramer in July 1993 and is headquartered in Tel Aviv, Israel.

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