Barclays Issues Pessimistic Forecast for Check Point Software Technologies (NASDAQ:CHKP) Stock Price

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

CHKP has been the topic of several other reports. Robert W. Baird boosted 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 research note on Tuesday, October 22nd. Mizuho upped their price objective on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Scotiabank lifted 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. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Finally, Wedbush lifted their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Fifteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Check Point Software Technologies has an average rating of “Hold” and a consensus price target of $197.74.

Check Point Software Technologies Stock Performance

CHKP opened at $170.50 on Tuesday. The business’s 50-day simple moving average is $194.47 and its 200 day simple moving average is $174.75. Check Point Software Technologies has a 52-week low of $134.72 and a 52-week high of $210.70. The firm has a market capitalization of $18.75 billion, a PE ratio of 23.29, a PEG ratio of 2.71 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. During the same quarter in the prior year, the business posted $1.80 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. On average, research analysts forecast that Check Point Software Technologies will post 7.84 earnings per share for the current year.

Institutional Trading of Check Point Software Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Kathleen S. Wright Associates Inc. bought a new stake in Check Point Software Technologies during the third quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Check Point Software Technologies during the 2nd quarter worth $30,000. Concord Wealth Partners bought a new stake in shares of Check Point Software Technologies during the 3rd quarter worth $37,000. FSC Wealth Advisors LLC acquired a new stake in Check Point Software Technologies in the third quarter valued at about $60,000. Finally, Sound Income Strategies LLC grew its position in Check Point Software Technologies by 654.4% in the third quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock valued at $83,000 after acquiring an additional 373 shares during the last quarter. Institutional investors 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.