Check Point Software Technologies (NASDAQ:CHKP) Price Target Cut to $165.00 by Analysts at Stifel Nicolaus

Check Point Software Technologies (NASDAQ:CHKP) had its target price lowered by Stifel Nicolaus from $170.00 to $165.00 in a report released on Friday, Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

CHKP has been the subject of a number of other research reports. Mizuho reiterated a neutral rating and set a $160.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, March 27th. Citigroup increased their price target on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the company a neutral rating in a research note on Wednesday, January 10th. William Blair upgraded shares of Check Point Software Technologies from a market perform rating to an outperform rating in a research report on Wednesday, January 31st. Wedbush reaffirmed an outperform rating and issued a $185.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company lifted their price target on shares of Check Point Software Technologies from $132.00 to $162.00 and gave the stock an equal weight rating in a research note on Monday, January 29th. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Check Point Software Technologies currently has a consensus rating of Hold and an average target price of $164.00.

Check Point Software Technologies Stock Down 1.1 %

NASDAQ:CHKP opened at $151.20 on Friday. Check Point Software Technologies has a 52 week low of $117.18 and a 52 week high of $168.82. The stock’s fifty day moving average is $161.41 and its two-hundred day moving average is $152.89. The stock has a market capitalization of $18.26 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, meeting the consensus estimate of $1.72. Check Point Software Technologies had a return on equity of 31.30% and a net margin of 34.33%. The company had revenue of $598.80 million during the quarter, compared to the consensus estimate of $595.28 million. On average, sell-side analysts expect that Check Point Software Technologies will post 7.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

Several hedge funds have recently bought and sold shares of CHKP. Ariel Investments LLC increased its position in shares of Check Point Software Technologies by 121.2% in the third quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock valued at $144,391,000 after buying an additional 593,623 shares in the last quarter. Morningstar Investment Services LLC purchased a new stake in shares of Check Point Software Technologies in the third quarter valued at about $65,522,000. LSV Asset Management increased its stake in shares of Check Point Software Technologies by 1,535.7% during the 3rd quarter. LSV Asset Management now owns 413,835 shares of the technology company’s stock worth $55,156,000 after purchasing an additional 388,535 shares in the last quarter. Boston Trust Walden Corp raised its position in shares of Check Point Software Technologies by 248.8% during the 4th quarter. Boston Trust Walden Corp now owns 306,201 shares of the technology company’s stock worth $46,784,000 after purchasing an additional 218,403 shares during the last quarter. Finally, Norges Bank purchased a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $29,801,000. 87.62% of the stock is 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.