Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $145.00

Check Point Software Technologies (NASDAQ:CHKP) had its target price hoisted by Citigroup from $130.00 to $145.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the technology company’s stock.

Several other research firms have also recently commented on CHKP. UBS Group upped their target price on shares of Check Point Software Technologies from $145.00 to $150.00 and gave the company a “neutral” rating in a research note on Tuesday. Bank of America boosted their price objective on shares of Check Point Software Technologies from $120.00 to $140.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Wells Fargo & Company upped their price objective on shares of Check Point Software Technologies from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Tuesday. Weiss Ratings raised shares of Check Point Software Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Finally, Robert W. Baird reduced their target price on shares of Check Point Software Technologies from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday. Ten research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $151.32.

Check Point Software Technologies Stock Up 0.5%

Shares of CHKP stock opened at $148.18 on Tuesday. Check Point Software Technologies has a 12 month low of $112.23 and a 12 month high of $206.43. The firm has a market cap of $15.13 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 4.22 and a beta of 0.43. The stock has a 50 day moving average of $138.58 and a 200-day moving average of $140.90. The company has a quick ratio of 1.67, a current ratio of 1.60 and a debt-to-equity ratio of 0.75.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Monday, November 2nd. The technology company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. The company had revenue of $669.80 million during the quarter, compared to analysts’ expectations of $672.06 million. Check Point Software Technologies had a return on equity of 34.08% and a net margin of 31.74%. Check Point Software Technologies’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.94 earnings per share. On average, equities analysts predict that Check Point Software Technologies will post 8.45 EPS for the current year.

Insiders Place Their Bets

In other Check Point Software Technologies news, insider Nataly Kremer sold 3,185 shares of the business’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $150.08, for a total value of $478,004.80. Following the sale, the insider owned 19,347 shares of the company’s stock, valued at $2,903,597.76. The trade was a 14.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is owned by corporate insiders.

Institutional Trading of Check Point Software Technologies

Several institutional investors have recently made changes to their positions in CHKP. Assetmark Inc. increased its stake in Check Point Software Technologies by 5.1% in the first quarter. Assetmark Inc. now owns 223,868 shares of the technology company’s stock valued at $31,980,000 after acquiring an additional 10,903 shares during the period. Junto Capital Management LP bought a new position in Check Point Software Technologies during the second quarter worth about $72,445,000. Renaissance Technologies LLC acquired a new stake in Check Point Software Technologies during the first quarter valued at approximately $34,171,000. Lazard Asset Management LLC boosted its holdings in Check Point Software Technologies by 16.2% during the first quarter. Lazard Asset Management LLC now owns 809,115 shares of the technology company’s stock valued at $115,582,000 after purchasing an additional 112,713 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC lifted its position in shares of Check Point Software Technologies by 180.4% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 22,769 shares of the technology company’s stock worth $2,922,000 after buying an additional 14,648 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

About Check Point Software Technologies

Check Point Software Technologies Ltd. is a cybersecurity company that develops products and services designed to protect organizations, governments and consumers from cyber threats. Its offerings help secure networks, cloud environments, endpoints, mobile devices, data and remote access, with capabilities including threat prevention, firewall protection, intrusion prevention, email security and security management.

The company organizes its portfolio under platforms that include Quantum for network security, CloudGuard for cloud security and Harmony for user, endpoint and remote-access protection.