Check Point Software Technologies (NASDAQ:CHKP) Given New $165.00 Price Target at Stifel Nicolaus

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

A number of other analysts have also commented on CHKP. Susquehanna boosted their target price on Check Point Software Technologies from $190.00 to $200.00 and gave the company a positive rating in a research report on Wednesday, February 7th. Needham & Company LLC reaffirmed a hold rating on shares of Check Point Software Technologies in a research report on Friday. TD Cowen lifted their price target on shares of Check Point Software Technologies from $180.00 to $205.00 and gave the company an outperform rating in a research report on Monday, March 18th. Mizuho reissued a neutral rating and set a $160.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, March 27th. Finally, Barclays increased their target price on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company an equal weight rating in a report on Friday. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $164.00.

Check Point Software Technologies Trading Down 1.1 %

Shares of CHKP opened at $151.20 on Friday. The stock’s 50-day moving average price is $161.41 and its two-hundred day moving average price is $152.89. Check Point Software Technologies has a 12 month low of $117.18 and a 12 month high of $168.82. The company has a market capitalization of $18.26 billion, a PE ratio of 21.00, a PEG ratio of 2.48 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, meeting analysts’ consensus estimates of $1.72. The business had revenue of $598.80 million for the quarter, compared to analysts’ expectations of $595.28 million. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.30%. Equities research analysts predict that Check Point Software Technologies will post 7.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Check Point Software Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC lifted its position in Check Point Software Technologies by 1.6% in the 3rd quarter. Acadian Asset Management LLC now owns 4,348,630 shares of the technology company’s stock worth $579,517,000 after buying an additional 69,441 shares during the last quarter. Boston Partners raised its holdings in Check Point Software Technologies by 5.0% in the 4th quarter. Boston Partners now owns 3,204,519 shares of the technology company’s stock worth $489,700,000 after purchasing an additional 151,657 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Check Point Software Technologies by 0.3% in the 3rd quarter. Nordea Investment Management AB now owns 2,727,583 shares of the technology company’s stock worth $365,851,000 after acquiring an additional 7,493 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Check Point Software Technologies by 3.4% in the 3rd quarter. Legal & General Group Plc now owns 1,626,814 shares of the technology company’s stock worth $216,822,000 after acquiring an additional 52,863 shares in the last quarter. Finally, Ariel Investments LLC increased its holdings in shares of Check Point Software Technologies by 121.2% during the third quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock valued at $144,391,000 after acquiring an additional 593,623 shares in the last quarter. 87.62% of the stock is currently 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.