Check Point Software Technologies (NASDAQ:CHKP) Stock Rating Reaffirmed by Wedbush

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research note issued to investors on Friday, Benzinga reports. They presently have a $185.00 price objective on the technology company’s stock. Wedbush’s target price suggests a potential upside of 22.35% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. Susquehanna boosted their target price on shares of Check Point Software Technologies from $190.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, February 7th. Truist Financial boosted their target price on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Citigroup boosted their target price on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Mizuho restated a “neutral” rating and issued a $160.00 target price on shares of Check Point Software Technologies in a report on Wednesday, March 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $164.00.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $151.20 on Friday. The company has a market cap of $18.26 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. Check Point Software Technologies has a 12 month low of $117.18 and a 12 month high of $168.82. The company has a 50-day simple moving average of $161.41 and a 200-day simple moving average of $153.01.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, hitting analysts’ consensus estimates 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 net margin of 34.33% and a return on equity of 31.30%. On average, analysts anticipate that Check Point Software Technologies will post 7.85 EPS for the current year.

Institutional Trading of Check Point Software Technologies

Several large investors have recently modified their holdings of CHKP. Concord Wealth Partners acquired a new stake in shares of Check Point Software Technologies during the third quarter valued at about $25,000. CNB Bank acquired a new stake in shares of Check Point Software Technologies during the third quarter valued at about $27,000. Bruce G. Allen Investments LLC acquired a new position in Check Point Software Technologies in the fourth quarter worth about $30,000. Richardson Financial Services Inc. acquired a new position in Check Point Software Technologies in the fourth quarter worth about $33,000. Finally, Salem Investment Counselors Inc. grew its stake in Check Point Software Technologies by 483.7% in the fourth quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock worth $44,000 after purchasing an additional 237 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Company Profile

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.