Check Point Software Technologies (NASDAQ:CHKP) Price Target Cut to $205.00 by Analysts at Robert W. Baird

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) had its price objective dropped by investment analysts at Robert W. Baird from $210.00 to $205.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the technology company's stock. Robert W. Baird's price target would indicate a potential upside of 16.40% from the company's current price.

Several other equities analysts have also weighed in on the stock. Scotiabank increased their price target on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the company a "sector outperform" rating in a research report on Thursday, July 25th. Needham & Company LLC reissued a "hold" rating on shares of Check Point Software Technologies in a research report on Thursday, July 25th. Royal Bank of Canada lifted their price target on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the stock a "sector perform" rating in a report on Thursday, July 25th. Jefferies Financial Group increased their price objective on Check Point Software Technologies from $210.00 to $225.00 and gave the company a "buy" rating in a report on Tuesday, September 24th. Finally, Bank of America lowered Check Point Software Technologies from a "buy" rating to a "neutral" rating and lowered their target price for the company from $205.00 to $195.00 in a research note on Wednesday. Sixteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $197.74.

Check Point Software Technologies Stock Down 1.0 %

CHKP stock traded down $1.75 during midday trading on Wednesday, hitting $176.12. The company's stock had a trading volume of 599,910 shares, compared to its average volume of 689,350. The stock has a market cap of $19.37 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 3.17 and a beta of 0.62. The stock's 50-day moving average price is $195.52 and its 200 day moving average price is $174.67. Check Point Software Technologies has a 1 year low of $129.13 and a 1 year high of $210.70.

Hedge Funds Weigh In On Check Point Software Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Check Point Software Technologies in the 2nd quarter worth about $30,000. Kathleen S. Wright Associates Inc. bought a new stake in Check Point Software Technologies in the 3rd quarter worth approximately $33,000. Concord Wealth Partners purchased a new stake in Check Point Software Technologies in the third quarter worth approximately $37,000. FSC Wealth Advisors LLC bought a new position in Check Point Software Technologies during the third quarter valued at approximately $60,000. Finally, Sound Income Strategies LLC raised its stake in shares of Check Point Software Technologies by 654.4% during the third quarter. Sound Income Strategies LLC now owns 430 shares of the technology company's stock worth $83,000 after acquiring an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Check Point Software Technologies Company Profile

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.