Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $185.00 at Evercore ISI

Check Point Software Technologies (NASDAQ:CHKP) had its price objective boosted by investment analysts at Evercore ISI from $180.00 to $185.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “in-line” rating on the technology company’s stock. Evercore ISI’s price target would indicate a potential upside of 5.47% from the stock’s current price.

Several other analysts also recently commented on the company. Jefferies Financial Group raised their price objective on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Scotiabank increased their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research report on Wednesday. Finally, Susquehanna raised their price objective on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a report on Thursday, July 25th. Sixteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Check Point Software Technologies currently has an average rating of “Hold” and a consensus price target of $197.74.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock traded down $2.47 during trading on Wednesday, hitting $175.40. 432,016 shares of the company were exchanged, compared to its average volume of 688,551. The firm has a market capitalization of $19.29 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62. The firm’s fifty day moving average price is $195.52 and its 200 day moving average price is $174.67. Check Point Software Technologies has a 1-year low of $129.13 and a 1-year high of $210.70.

Hedge Funds Weigh In On Check Point Software Technologies

Several large investors have recently made changes to their positions in CHKP. Tidal Investments LLC purchased a new stake in Check Point Software Technologies during the first quarter valued at $6,558,000. Quantbot Technologies LP bought a new stake in shares of Check Point Software Technologies during the first quarter valued at approximately $1,095,000. Allspring Global Investments Holdings LLC lifted its stake in Check Point Software Technologies by 8.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 97,434 shares of the technology company’s stock worth $15,980,000 after purchasing an additional 7,357 shares in the last quarter. M&G Plc grew its position in shares of Check Point Software Technologies by 10.0% during the second quarter. M&G Plc now owns 108,449 shares of the technology company’s stock valued at $17,894,000 after purchasing an additional 9,830 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Check Point Software Technologies in the first quarter worth about $2,928,000. 87.62% 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.