Barclays Increases Check Point Software Technologies (NASDAQ:CHKP) Price Target to $175.00

Check Point Software Technologies (NASDAQ:CHKP) had its price objective increased by equities research analysts at Barclays from $170.00 to $175.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target points to a potential upside of 15.74% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Truist Financial boosted their price target on Check Point Software Technologies from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Friday. Wells Fargo & Company boosted their price target on Check Point Software Technologies from $132.00 to $162.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. TD Cowen boosted their price target on Check Point Software Technologies from $180.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Finally, Citigroup upped their target price on Check Point Software Technologies from $140.00 to $155.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock 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 business’s fifty day moving average is $161.41 and its two-hundred day moving average is $153.01. The company has a market cap 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 one year low of $117.18 and a one year high of $168.82.

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

Institutional Investors Weigh In On Check Point Software Technologies

A number of institutional investors have recently added to or reduced their stakes in CHKP. Ariel Investments LLC grew its position in Check Point Software Technologies by 121.2% during the third quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock valued at $144,391,000 after acquiring an additional 593,623 shares during the period. Morningstar Investment Services LLC purchased a new stake in Check Point Software Technologies during the third quarter valued at about $65,522,000. LSV Asset Management grew its position in Check Point Software Technologies by 1,535.7% during the third quarter. LSV Asset Management now owns 413,835 shares of the technology company’s stock valued at $55,156,000 after acquiring an additional 388,535 shares during the period. Boston Trust Walden Corp grew its position in Check Point Software Technologies by 248.8% during the fourth quarter. Boston Trust Walden Corp now owns 306,201 shares of the technology company’s stock valued at $46,784,000 after acquiring an additional 218,403 shares during the period. Finally, Norges Bank purchased a new stake in Check Point Software Technologies during the fourth quarter valued at about $29,801,000. Hedge funds and other institutional investors 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.