Cantor Fitzgerald Increases Check Point Software Technologies (NASDAQ:CHKP) Price Target to $230.00

Check Point Software Technologies (NASDAQ:CHKP) had its price objective boosted by Cantor Fitzgerald from $220.00 to $230.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 5.76% from the company’s previous close.

A number of other analysts have also recently commented on the company. Morgan Stanley reduced their price target on Check Point Software Technologies from $235.00 to $220.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Compass Point set a $260.00 price target on Check Point Software Technologies in a report on Thursday, March 27th. Stephens cut their price target on Check Point Software Technologies from $255.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Roth Capital started coverage on Check Point Software Technologies in a report on Wednesday, April 23rd. They set a “neutral” rating and a $215.00 price target for the company. Finally, Wall Street Zen upgraded Check Point Software Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th. Sixteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $234.24.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $217.47 on Wednesday. The company has a market cap of $23.92 billion, a P/E ratio of 28.69, a PEG ratio of 3.12 and a beta of 0.64. Check Point Software Technologies has a 1 year low of $169.02 and a 1 year high of $234.36. The stock’s fifty day moving average price is $222.37 and its 200-day moving average price is $215.77.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.02. The business had revenue of $637.80 million for the quarter, compared to analysts’ expectations of $635.80 million. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $2.04 earnings per share. On average, sell-side analysts anticipate that Check Point Software Technologies will post 8.61 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nemes Rush Group LLC purchased a new position in shares of Check Point Software Technologies in the 4th quarter valued at $25,000. Capital A Wealth Management LLC purchased a new position in Check Point Software Technologies during the 4th quarter worth $29,000. Horizon Investments LLC grew its stake in Check Point Software Technologies by 116.4% during the 1st quarter. Horizon Investments LLC now owns 158 shares of the technology company’s stock worth $36,000 after buying an additional 85 shares during the last quarter. Cromwell Holdings LLC purchased a new position in Check Point Software Technologies during the 1st quarter worth $37,000. Finally, Abound Financial LLC purchased a new position in Check Point Software Technologies during the 1st quarter worth $40,000. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

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.