Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $240.00

Check Point Software Technologies (NASDAQ:CHKP) had its target price lifted by Mizuho from $230.00 to $240.00 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other equities analysts have also commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Wells Fargo & Company dropped their target price on shares of Check Point Software Technologies from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Roth Capital assumed coverage on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $215.00 price target for the company. Arete Research upgraded shares of Check Point Software Technologies to a “hold” rating in a research note on Monday, February 24th. Finally, Jefferies Financial Group upped their target price on Check Point Software Technologies from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Sixteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $232.44.

Check Point Software Technologies Stock Down 0.4%

NASDAQ:CHKP opened at $218.42 on Monday. Check Point Software Technologies has a 52 week low of $153.88 and a 52 week high of $234.36. The firm has a 50 day moving average of $220.10 and a 200 day moving average of $211.00. The stock has a market capitalization of $24.02 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.13 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The firm had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. During the same period in the previous year, the business earned $2.04 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts expect that Check Point Software Technologies will post 8.61 EPS for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Nemes Rush Group LLC acquired a new position in shares of Check Point Software Technologies during the 4th quarter worth about $25,000. Capital A Wealth Management LLC acquired a new stake in Check Point Software Technologies during the 4th quarter worth $29,000. Strategic Financial Concepts LLC purchased a new stake in shares of Check Point Software Technologies during the fourth quarter worth $35,000. Horizon Investments LLC raised its position in shares of Check Point Software Technologies by 116.4% in the first quarter. Horizon Investments LLC now owns 158 shares of the technology company’s stock valued at $36,000 after buying an additional 85 shares during the last quarter. Finally, Cromwell Holdings LLC acquired a new stake in Check Point Software Technologies in the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 98.51% 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.