Check Point Software Technologies (NASDAQ:CHKP) Price Target Cut to $130.00 by Analysts at Wells Fargo & Company

Check Point Software Technologies (NASDAQ:CHKPGet Rating) had its target price decreased by investment analysts at Wells Fargo & Company from $144.00 to $130.00 in a report issued on Thursday, The Fly reports. Wells Fargo & Company‘s target price points to a potential upside of 2.44% from the company’s previous close.

Several other brokerages have also recently issued reports on CHKP. Raymond James raised their price objective on Check Point Software Technologies from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 4th. Morgan Stanley raised their price objective 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 objective 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. Cowen lifted their price objective on Check Point Software Technologies from $142.00 to $164.00 and gave the stock an “outperform” rating in a research report on Thursday, March 10th. Finally, Jefferies Financial Group started coverage on Check Point Software Technologies in a research report on Monday, April 18th. They set a “hold” rating and a $155.00 price objective on the stock. Six research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $140.59.

Shares of Check Point Software Technologies stock opened at $126.90 on Thursday. The stock’s fifty day moving average is $139.31 and its two-hundred day moving average is $125.79. The company has a market capitalization of $16.38 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 3.00 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 posted its quarterly earnings results on Wednesday, April 27th. The technology company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.03. Check Point Software Technologies had a return on equity of 25.39% and a net margin of 37.64%. The business had revenue of $542.70 million for the quarter, compared to the consensus estimate of $535.57 million. During the same quarter in the prior year, the company earned $1.39 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Check Point Software Technologies will post 6.4 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. Private Trust Co. NA boosted its position 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 acquiring an additional 76 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its holdings in shares of Check Point Software Technologies by 1.5% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 5,681 shares of the technology company’s stock valued at $662,000 after purchasing an additional 82 shares during the last quarter. Brookstone Capital Management lifted its holdings in shares of Check Point Software Technologies by 2.3% in the 3rd quarter. Brookstone Capital Management now owns 3,795 shares of the technology company’s stock valued at $459,000 after purchasing an additional 87 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Check Point Software Technologies by 55.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 249 shares of the technology company’s stock valued at $29,000 after purchasing an additional 89 shares during the last quarter. Finally, American International Group Inc. lifted its holdings in shares of Check Point Software Technologies by 0.3% in the 3rd quarter. American International Group Inc. now owns 27,450 shares of the technology company’s stock valued at $3,103,000 after purchasing an additional 91 shares during the last quarter. 86.69% of the stock is owned by institutional investors and hedge funds.

About Check Point Software Technologies (Get Rating)

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.

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