Check Point Software Technologies (NASDAQ:CHKP) Price Target Cut to $140.00 by Analysts at Barclays

Check Point Software Technologies (NASDAQ:CHKPGet Rating) had its price target trimmed by Barclays from $145.00 to $140.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage currently has an equal weight rating on the technology company’s stock.

A number of other equities research analysts also recently weighed in on the company. Credit Suisse Group boosted their price target on Check Point Software Technologies from $105.00 to $115.00 in a report on Thursday, April 28th. Royal Bank of Canada boosted their price target on Check Point Software Technologies from $139.00 to $145.00 and gave the company a sector perform rating in a report on Monday, April 25th. Jefferies Financial Group lowered their price target on Check Point Software Technologies from $145.00 to $130.00 in a report on Monday, May 23rd. Piper Sandler lowered their price target on Check Point Software Technologies from $130.00 to $120.00 in a report on Wednesday, July 13th. Finally, Citigroup lowered their price target on Check Point Software Technologies from $122.00 to $120.00 and set a maintains rating for the company in a report on Friday, July 22nd. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $138.29.

Check Point Software Technologies Stock Down 0.5 %

Shares of CHKP opened at $118.39 on Tuesday. The business’s 50 day moving average is $123.88 and its two-hundred day moving average is $129.44. Check Point Software Technologies has a 52-week low of $107.85 and a 52-week high of $149.62. The firm has a market cap of $14.85 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.75 and a beta of 0.60.

Check Point Software Technologies (NASDAQ:CHKPGet Rating) last announced its earnings results on Monday, August 1st. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.02. Check Point Software Technologies had a return on equity of 25.35% and a net margin of 36.43%. The company had revenue of $571.10 million for the quarter, compared to analyst estimates of $560.40 million. During the same period in the prior year, the company posted $1.41 EPS. Check Point Software Technologies’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts expect that Check Point Software Technologies will post 6.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA boosted its position in Check Point Software Technologies by 3.1% during the 1st quarter. Private Trust Co. NA now owns 2,509 shares of the technology company’s stock worth $347,000 after acquiring an additional 76 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Check Point Software Technologies by 0.8% in the first quarter. CIBC Asset Management Inc now owns 11,318 shares of the technology company’s stock valued at $1,565,000 after buying an additional 89 shares during the period. Monarch Capital Management Inc. lifted its holdings in shares of Check Point Software Technologies by 2.2% in the second quarter. Monarch Capital Management Inc. now owns 4,136 shares of the technology company’s stock valued at $504,000 after buying an additional 90 shares during the period. WASHINGTON TRUST Co lifted its holdings in shares of Check Point Software Technologies by 14.3% in the fourth quarter. WASHINGTON TRUST Co now owns 800 shares of the technology company’s stock valued at $93,000 after buying an additional 100 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Check Point Software Technologies by 0.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,896 shares of the technology company’s stock valued at $3,027,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 91.96% of the company’s stock.

About Check Point Software Technologies

(Get Rating)

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.

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