Check Point Software Technologies (NASDAQ:CHKP) Upgraded by Wells Fargo & Company to "Overweight" Rating

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) was upgraded by investment analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research report issued on Friday, MarketBeat Ratings reports. The firm currently has a $280.00 target price on the technology company's stock, up from their prior target price of $200.00. Wells Fargo & Company's price objective would suggest a potential upside of 21.87% from the company's current price.

Several other equities analysts have also recently weighed in on CHKP. Jefferies Financial Group raised their price target on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Guggenheim reaffirmed a "neutral" rating on shares of Check Point Software Technologies in a research report on Friday, January 31st. Citigroup raised their price target on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. Robert W. Baird raised shares of Check Point Software Technologies from a "neutral" rating to an "outperform" rating and raised their price target for the company from $235.00 to $255.00 in a research report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Eighteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $228.78.

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Check Point Software Technologies Price Performance

Shares of CHKP traded down $0.64 during trading hours on Friday, hitting $229.75. The stock had a trading volume of 797,955 shares, compared to its average volume of 705,123. The firm has a 50 day simple moving average of $209.39 and a 200-day simple moving average of $196.11. The firm has a market capitalization of $25.27 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $235.13.

Institutional Investors Weigh In On Check Point Software Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of CHKP. Nemes Rush Group LLC bought a new stake in Check Point Software Technologies during the 4th quarter valued at $25,000. FSA Wealth Management LLC bought a new position in shares of Check Point Software Technologies in the third quarter worth $27,000. Capital A Wealth Management LLC bought a new position in shares of Check Point Software Technologies in the fourth quarter worth $29,000. GAMMA Investing LLC increased its holdings in shares of Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company's stock worth $32,000 after purchasing an additional 60 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in shares of Check Point Software Technologies in the fourth quarter worth $35,000. 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.