Check Point Software Technologies (NASDAQ:CHKP) Given New $205.00 Price Target at Robert W. Baird

Check Point Software Technologies (NASDAQ:CHKP) had its price target lowered by Robert W. Baird from $210.00 to $205.00 in a research note released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Several other research analysts also recently commented on the company. Wedbush raised their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised their target price on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Susquehanna lifted their price target on Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a research report on Thursday, July 25th. Mizuho lifted their price target on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets lifted their price target on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Fifteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $197.74.

Check Point Software Technologies Stock Performance

CHKP stock opened at $170.50 on Wednesday. Check Point Software Technologies has a fifty-two week low of $134.72 and a fifty-two week high of $210.70. The stock has a fifty day moving average of $194.47 and a 200-day moving average of $174.87. The company has a market capitalization of $18.75 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.71 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting the consensus estimate of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The business had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. During the same quarter last year, the company earned $1.80 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Equities analysts predict that Check Point Software Technologies will post 7.84 EPS for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

Large investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Check Point Software Technologies during the 2nd quarter valued at about $30,000. Kathleen S. Wright Associates Inc. purchased a new position in Check Point Software Technologies in the 3rd quarter worth approximately $33,000. Concord Wealth Partners purchased a new position in Check Point Software Technologies in the 3rd quarter worth approximately $37,000. FSC Wealth Advisors LLC purchased a new position in Check Point Software Technologies in the 3rd quarter worth approximately $60,000. Finally, Sound Income Strategies LLC increased its stake in Check Point Software Technologies by 654.4% in the 3rd quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock worth $83,000 after purchasing an additional 373 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Company Profile

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.