A point light radiates light in all directions from its location.
A point light does not target an object, but illuminates everything around it. You can use them for general lighting effects.
When the light glyphs are displayed, point lights are represented as wireframe balls in the Scene View. Clicking on the glyph displays gizmo, which you can use to adjust the position of the light.
1 - Normal display of a point light glyph.
2 - Glyph is highlighted in the scene (when you move mouse over the glyph).
3 - Glyph is selected in the scene and gizmo becomes available.