Check Point Software Technologies (NASDAQ:CHKP) Upgraded by Wells Fargo & Company to “Equal Weight”

Wells Fargo & Company upgraded shares of Check Point Software Technologies (NASDAQ:CHKPGet Rating) from an underweight rating to an equal weight rating in a report released on Tuesday morning, The Fly reports. Wells Fargo & Company currently has $130.00 target price on the technology company’s stock.

A number of other research analysts have also recently issued reports on the company. Piper Sandler lifted their price objective on Check Point Software Technologies from $125.00 to $130.00 in a research note on Thursday, January 5th. Mizuho lifted their price objective on Check Point Software Technologies from $130.00 to $135.00 and gave the company a neutral rating in a research note on Friday, October 28th. Macquarie started coverage on Check Point Software Technologies in a report on Wednesday, November 2nd. They issued a neutral rating and a $129.00 target price for the company. Barclays lifted their target price on Check Point Software Technologies from $135.00 to $137.00 and gave the stock an equal weight rating in a report on Friday, October 28th. Finally, Citigroup lifted their target price on Check Point Software Technologies from $117.00 to $125.00 in a report on Friday, October 28th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $138.30.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $130.03 on Tuesday. The firm has a market cap of $16.31 billion, a P/E ratio of 21.28, a P/E/G ratio of 2.53 and a beta of 0.68. Check Point Software Technologies has a fifty-two week low of $107.54 and a fifty-two week high of $149.62. The business’s 50 day moving average price is $129.16 and its 200-day moving average price is $123.27.

Check Point Software Technologies (NASDAQ:CHKPGet Rating) last released its earnings results on Thursday, October 27th. The technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.06. The company had revenue of $577.60 million during the quarter, compared to analysts’ expectations of $571.78 million. Check Point Software Technologies had a return on equity of 26.20% and a net margin of 34.35%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.44 EPS. As a group, equities analysts predict that Check Point Software Technologies will post 6.37 EPS for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

A number of hedge funds have recently made changes to their positions in the company. Steigerwald Gordon & Koch Inc. lifted its position in shares of Check Point Software Technologies by 2.8% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 106,008 shares of the technology company’s stock worth $13,374,000 after buying an additional 2,846 shares in the last quarter. Donald L. Hagan LLC purchased a new stake in shares of Check Point Software Technologies in the fourth quarter worth about $237,000. Ronald Blue Trust Inc. lifted its position in shares of Check Point Software Technologies by 2,161.7% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,063 shares of the technology company’s stock worth $119,000 after buying an additional 1,016 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in shares of Check Point Software Technologies by 26.6% in the fourth quarter. Gateway Investment Advisers LLC now owns 15,574 shares of the technology company’s stock worth $1,965,000 after buying an additional 3,271 shares in the last quarter. Finally, First Hawaiian Bank purchased a new stake in shares of Check Point Software Technologies in the fourth quarter worth about $426,000. 64.76% 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. 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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