Check Point Software Technologies (NASDAQ:CHKP) Reaches New 12-Month High - Time to Buy?

Check Point Software Technologies Ltd. (NASDAQ:CHKP - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $227.74 and last traded at $224.31, with a volume of 106456 shares changing hands. The stock had previously closed at $223.48.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Arete Research raised Check Point Software Technologies to a "hold" rating in a research note on Monday, February 24th. Citigroup lifted their target price on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Stifel Nicolaus increased their target price on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Cantor Fitzgerald restated 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. Finally, StockNews.com upgraded Check Point Software Technologies from a "hold" rating to a "buy" rating in a report on Wednesday, March 5th. Seventeen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $224.86.

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Check Point Software Technologies Stock Down 1.3 %

The business has a 50-day simple moving average of $206.28 and a 200-day simple moving average of $195.20. The company has a market cap of $24.46 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62.

Hedge Funds Weigh In On Check Point Software Technologies

Several hedge funds have recently bought and sold shares of the company. Gitterman Wealth Management LLC increased its stake in Check Point Software Technologies by 3.2% during the fourth quarter. Gitterman Wealth Management LLC now owns 1,533 shares of the technology company's stock worth $286,000 after purchasing an additional 48 shares during the period. TD Waterhouse Canada Inc. grew its holdings in shares of Check Point Software Technologies by 1.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,095 shares of the technology company's stock valued at $578,000 after purchasing an additional 52 shares in the last quarter. Argonautica Private Wealth Management Inc. increased its stake in Check Point Software Technologies by 0.9% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,002 shares of the technology company's stock worth $1,121,000 after buying an additional 56 shares during the period. Regatta Capital Group LLC lifted its holdings in Check Point Software Technologies by 4.9% during the 4th quarter. Regatta Capital Group LLC now owns 1,229 shares of the technology company's stock worth $229,000 after buying an additional 57 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its position in Check Point Software Technologies by 3.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 1,891 shares of the technology company's stock valued at $353,000 after buying an additional 57 shares during the period. 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.