Check Point Software Technologies’ (CHKP) Outperform Rating Reaffirmed at Wedbush

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $185.00 target price on the technology company’s stock. Wedbush’s target price indicates a potential upside of 22.64% from the company’s current price.

A number of other research firms have also commented on CHKP. Susquehanna lifted their target price on Check Point Software Technologies from $190.00 to $200.00 and gave the stock a “positive” rating in a report on Wednesday, February 7th. Wells Fargo & Company boosted their target price on Check Point Software Technologies from $132.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. UBS Group raised their price target on shares of Check Point Software Technologies from $140.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Friday. Finally, Citigroup increased their price objective on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $164.00.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock traded down $2.10 during midday trading on Friday, reaching $150.85. The company had a trading volume of 718,743 shares, compared to its average volume of 725,128. The firm has a market cap of $18.22 billion, a PE ratio of 21.27, a P/E/G ratio of 2.61 and a beta of 0.61. The stock has a fifty day moving average price of $161.64 and a 200 day moving average price of $152.78. Check Point Software Technologies has a fifty-two week low of $117.18 and a fifty-two week high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, meeting analysts’ consensus estimates of $1.72. Check Point Software Technologies had a return on equity of 30.81% and a net margin of 34.80%. The firm had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. As a group, sell-side analysts forecast that Check Point Software Technologies will post 7.85 EPS for the current year.

Institutional Trading of Check Point Software Technologies

A number of large investors have recently modified their holdings of CHKP. Concord Wealth Partners bought a new stake in Check Point Software Technologies during the 3rd quarter valued at $25,000. CNB Bank bought a new position in shares of Check Point Software Technologies during the 3rd quarter worth $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of Check Point Software Technologies during the fourth quarter valued at $30,000. Richardson Financial Services Inc. bought a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $33,000. Finally, Salem Investment Counselors Inc. raised its holdings in shares of Check Point Software Technologies by 483.7% in the fourth quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock valued at $44,000 after acquiring an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

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.