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

Check Point Software Technologies (NASDAQ:CHKP) had its price target lowered by Barclays from $210.00 to $200.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an equal weight rating on the technology company’s stock.

Several other analysts also recently issued reports on CHKP. Robert W. Baird upped their price objective on shares of Check Point Software Technologies from $200.00 to $210.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their price target on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Evercore ISI raised shares of Check Point Software Technologies to a “hold” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Susquehanna increased their price target on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $197.74.

Check Point Software Technologies Trading Down 0.4 %

NASDAQ CHKP opened at $173.21 on Tuesday. The company has a fifty day simple moving average of $194.87 and a 200 day simple moving average of $174.66. The company has a market cap of $19.05 billion, a P/E ratio of 23.92, a P/E/G ratio of 3.17 and a beta of 0.62. Check Point Software Technologies has a 1 year low of $129.13 and a 1 year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.25. The business had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. Check Point Software Technologies’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.80 EPS. Equities research analysts forecast that Check Point Software Technologies will post 7.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Hedge funds have recently made changes to their positions in the company. Tidal Investments LLC acquired a new stake in shares of Check Point Software Technologies during the 1st quarter worth about $6,558,000. Quantbot Technologies LP acquired a new stake in shares of Check Point Software Technologies during the 1st quarter worth about $1,095,000. Allspring Global Investments Holdings LLC increased its position in shares of Check Point Software Technologies by 8.2% during 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 increased its position in shares of Check Point Software Technologies by 10.0% during the 2nd quarter. M&G Plc now owns 108,449 shares of the technology company’s stock worth $17,894,000 after purchasing an additional 9,830 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Check Point Software Technologies in the 1st quarter valued at about $2,928,000. 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.