Check Point Software Technologies (NASDAQ:CHKP) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) had its price target raised by stock analysts at BMO Capital Markets from $215.00 to $245.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the technology company's stock. BMO Capital Markets' price objective suggests a potential upside of 15.33% from the stock's current price.

Other analysts have also issued research reports about the stock. Truist Financial reiterated a "buy" rating and set a $250.00 price target (up previously from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. Jefferies Financial Group increased their price target on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Royal Bank of Canada increased their price target on shares of Check Point Software Technologies from $187.00 to $215.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. Stifel Nicolaus increased their price target on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $200.00 price target on shares of Check Point Software Technologies in a research report on Monday, January 27th. Nineteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Check Point Software Technologies presently has a consensus rating of "Hold" and a consensus price target of $215.59.

Check Point Software Technologies Stock Down 2.1 %

Shares of CHKP traded down $4.55 during mid-day trading on Monday, hitting $212.44. 1,050,188 shares of the company's stock were exchanged, compared to its average volume of 891,495. Check Point Software Technologies has a 52 week low of $145.75 and a 52 week high of $226.02. The stock's 50-day simple moving average is $190.61 and its 200-day simple moving average is $188.75. The firm has a market cap of $23.36 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65.

Hedge Funds Weigh In On Check Point Software Technologies

A number of hedge funds have recently modified their holdings of CHKP. Dimensional Fund Advisors LP acquired a new position in shares of Check Point Software Technologies during the second quarter worth $2,079,000. Millennium Management LLC raised its stake in Check Point Software Technologies by 20.6% during the second quarter. Millennium Management LLC now owns 44,101 shares of the technology company's stock worth $7,277,000 after buying an additional 7,523 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Check Point Software Technologies during the second quarter worth $250,000. Sanctuary Advisors LLC bought a new position in Check Point Software Technologies during the second quarter worth $703,000. Finally, Diversified Trust Co raised its stake in Check Point Software Technologies by 23.9% during the third quarter. Diversified Trust Co now owns 20,778 shares of the technology company's stock worth $4,006,000 after buying an additional 4,002 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

About Check Point Software Technologies

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.