Check Point Software Technologies (NASDAQ:CHKP) PT Lowered to $135.00 at Barclays – MarketBeat

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Check Point Software Technologies (NASDAQ:CHKP – Get Rating) had its target price dropped by equities research analysts at Barclays from $140.00 to $135.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Barclays‘s price objective suggests a potential upside of 23.10% from the company’s previous close.
A number of other brokerages have also recently commented on CHKP. OTR Global cut Check Point Software Technologies from a “positive” rating to a “mixed” rating in a research report on Wednesday, October 5th. Bank of America upgraded Check Point Software Technologies from an “underperform” rating to a “buy” rating and upped their price target for the stock from $130.00 to $140.00 in a research report on Wednesday, July 20th. Piper Sandler reduced their price target on Check Point Software Technologies from $130.00 to $120.00 in a research report on Wednesday, July 13th. BMO Capital Markets dropped their price objective on Check Point Software Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a research note on Tuesday, August 2nd. Finally, Sumitomo Mitsui Financial Group assumed coverage on Check Point Software Technologies in a research note on Friday. They issued a “neutral” rating and a $115.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Check Point Software Technologies currently has a consensus rating of “Hold” and a consensus target price of $137.35.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock opened at $109.67 on Tuesday. The stock has a market cap of $13.75 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 2.40 and a beta of 0.61. Check Point Software Technologies has a one year low of $107.85 and a one year high of $149.62. The stock has a fifty day moving average of $118.54 and a 200 day moving average of $124.72.
Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last posted its quarterly earnings data on Monday, August 1st. The technology company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. The company had revenue of $571.10 million during the quarter, compared to analysts’ expectations of $560.40 million. Check Point Software Technologies had a return on equity of 25.49% and a net margin of 35.15%. Check Point Software Technologies’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 earnings per share. As a group, sell-side analysts predict that Check Point Software Technologies will post 6.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHKP. Tcwp LLC purchased a new stake in Check Point Software Technologies during the first quarter valued at approximately $26,000. AdvisorNet Financial Inc raised its holdings in shares of Check Point Software Technologies by 107.0% in the first quarter. AdvisorNet Financial Inc now owns 236 shares of the technology company’s stock worth $33,000 after buying an additional 122 shares during the period. SeaCrest Wealth Management LLC purchased a new stake in shares of Check Point Software Technologies in the second quarter worth approximately $33,000. MV Capital Management Inc. purchased a new stake in shares of Check Point Software Technologies in the first quarter worth approximately $45,000. Finally, West Bancorporation Inc. purchased a new stake in shares of Check Point Software Technologies in the first quarter worth approximately $66,000. 67.03% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Company Profile

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Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.

Further Reading

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