Check Point Software Technologies (NASDAQ:CHKP) PT Raised to $200.00 at Robert W. Baird

Check Point Software Technologies (NASDAQ:CHKP) had its price target increased by equities researchers at Robert W. Baird from $168.00 to $200.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price objective indicates a potential upside of 9.45% from the stock’s current price.

CHKP has been the topic of several other research reports. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research report on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and issued a $185.00 price target on shares of Check Point Software Technologies in a report on Friday, April 26th. Mizuho reiterated a “neutral” rating and set a $160.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. KeyCorp upgraded Check Point Software Technologies to a “hold” rating in a research report on Tuesday, May 14th. Finally, Barclays increased their target price on Check Point Software Technologies from $170.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Fifteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $183.68.

Check Point Software Technologies Stock Performance

NASDAQ CHKP opened at $182.74 on Thursday. The firm has a market capitalization of $20.63 billion, a P/E ratio of 25.38, a PEG ratio of 2.84 and a beta of 0.62. The stock has a 50-day simple moving average of $161.86 and a two-hundred day simple moving average of $160.22. Check Point Software Technologies has a fifty-two week low of $125.68 and a fifty-two week high of $184.67.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.70% and a net margin of 33.61%. The company had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. During the same period last year, the business earned $1.74 earnings per share. Check Point Software Technologies’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, analysts forecast that Check Point Software Technologies will post 7.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. BSW Wealth Partners boosted its holdings in Check Point Software Technologies by 3.7% in the 4th quarter. BSW Wealth Partners now owns 2,162 shares of the technology company’s stock valued at $330,000 after purchasing an additional 78 shares during the last quarter. Argonautica Private Wealth Management Inc. grew its position in Check Point Software Technologies by 1.3% in the second quarter. Argonautica Private Wealth Management Inc. now owns 5,928 shares of the technology company’s stock worth $978,000 after acquiring an additional 78 shares during the period. Guardian Wealth Management Inc. increased its stake in Check Point Software Technologies by 0.5% during the fourth quarter. Guardian Wealth Management Inc. now owns 18,633 shares of the technology company’s stock worth $2,847,000 after acquiring an additional 85 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Check Point Software Technologies by 6.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,383 shares of the technology company’s stock valued at $211,000 after purchasing an additional 89 shares during the last quarter. Finally, Mather Group LLC. lifted its stake in shares of Check Point Software Technologies by 5.1% in the 2nd quarter. Mather Group LLC. now owns 2,056 shares of the technology company’s stock valued at $337,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds 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.