Check Point Software Technologies (NASDAQ:CHKP) Price Target Cut to $200.00 by Analysts at Citigroup

Check Point Software Technologies (NASDAQ:CHKP) had its target price decreased by Citigroup from $230.00 to $200.00 in a report issued on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the technology company’s stock.

A number of other equities analysts have also recently commented on the company. Wells Fargo & Company decreased their target price on Check Point Software Technologies from $265.00 to $225.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Morgan Stanley decreased their target price on Check Point Software Technologies from $230.00 to $215.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $250.00 target price on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Scotiabank decreased their target price on Check Point Software Technologies from $240.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, July 31st. Finally, Stifel Nicolaus set a $200.00 target price on Check Point Software Technologies in a report on Wednesday, July 30th. Fifteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.50.

Check Point Software Technologies Price Performance

CHKP stock opened at $188.64 on Monday. The company has a market cap of $20.75 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 2.84 and a beta of 0.59. Check Point Software Technologies has a 1 year low of $169.01 and a 1 year high of $234.35. The stock’s fifty day moving average price is $211.27 and its 200-day moving average price is $217.35.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. The firm had revenue of $665.20 million for the quarter, compared to the consensus estimate of $663.10 million. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the business posted $2.17 EPS. As a group, analysts expect that Check Point Software Technologies will post 8.61 earnings per share for the current year.

Institutional Investors Weigh In On Check Point Software Technologies

Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in shares of Check Point Software Technologies by 184.4% in the first quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company’s stock worth $13,149,000 after purchasing an additional 37,407 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of Check Point Software Technologies in the first quarter worth about $301,000. QRG Capital Management Inc. increased its holdings in shares of Check Point Software Technologies by 19.1% in the first quarter. QRG Capital Management Inc. now owns 2,442 shares of the technology company’s stock worth $557,000 after purchasing an additional 391 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Check Point Software Technologies by 15.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,937 shares of the technology company’s stock worth $899,000 after acquiring an additional 541 shares in the last quarter. Finally, Penserra Capital Management LLC grew its position in Check Point Software Technologies by 5.6% in the first quarter. Penserra Capital Management LLC now owns 393,212 shares of the technology company’s stock worth $89,620,000 after acquiring an additional 20,812 shares in the last quarter. 98.51% of the stock is owned by 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.