Check Point Software Technologies (NASDAQ:CHKP) Upgraded to "Overweight" at Piper Sandler

Piper Sandler upgraded shares of Check Point Software Technologies (NASDAQ:CHKP - Free Report) from a neutral rating to an overweight rating in a research report sent to investors on Monday, MarketBeat.com reports. The firm currently has $260.00 price target on the technology company's stock, up from their prior price target of $220.00.

Several other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $221.00 to $255.00 in a report on Wednesday, February 26th. StockNews.com downgraded shares of Check Point Software Technologies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $200.00 price target on shares of Check Point Software Technologies in a research note on Monday, January 27th. Robert W. Baird upgraded shares of Check Point Software Technologies from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $235.00 to $255.00 in a report on Thursday, February 27th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $215.00 price target on shares of Check Point Software Technologies in a report on Thursday, February 27th. Eighteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Check Point Software Technologies presently has an average rating of "Hold" and a consensus price target of $224.86.

Check Point Software Technologies Stock Up 0.2 %

Shares of Check Point Software Technologies stock traded up $0.38 during trading on Monday, reaching $221.60. 1,026,672 shares of the stock were exchanged, compared to its average volume of 923,909. The stock's fifty day moving average is $203.30 and its 200 day moving average is $194.14. The firm has a market cap of $24.37 billion, a price-to-earnings ratio of 29.67, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $226.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Check Point Software Technologies in the fourth quarter worth $428,820,000. Causeway Capital Management LLC raised its holdings in shares of Check Point Software Technologies by 33.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock worth $360,257,000 after buying an additional 487,823 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Check Point Software Technologies by 10.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company's stock worth $354,153,000 after buying an additional 177,104 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Check Point Software Technologies by 17.4% in the fourth quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company's stock worth $340,314,000 after buying an additional 269,925 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Check Point Software Technologies by 10.6% in the fourth quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company's stock worth $266,930,000 after buying an additional 136,699 shares during the last quarter. Hedge funds and other institutional investors 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.