Check Point Software Technologies (NASDAQ:CHKP) Downgraded by StockNews.com to "Hold"

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday.

Other equities analysts also recently issued research reports about the company. Susquehanna increased their price target on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a "positive" rating in a research report on Friday, January 31st. The Goldman Sachs Group lowered Check Point Software Technologies from a "buy" rating to a "neutral" rating and increased their target price for the company from $204.00 to $207.00 in a research report on Thursday, January 2nd. Needham & Company LLC reissued a "hold" rating on shares of Check Point Software Technologies in a report on Thursday, February 27th. UBS Group upped their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Finally, BMO Capital Markets lifted their target price on shares of Check Point Software Technologies from $215.00 to $245.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. Eighteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Check Point Software Technologies has an average rating of "Hold" and a consensus target price of $224.86.

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Check Point Software Technologies Trading Down 1.4 %

CHKP traded down $3.09 on Thursday, reaching $214.90. The stock had a trading volume of 1,341,857 shares, compared to its average volume of 1,000,768. The business's 50-day moving average price is $206.90 and its two-hundred day moving average price is $195.36. The company has a market cap of $23.64 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $230.65.

Institutional Investors Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHKP. Centaurus Financial Inc. grew its holdings in shares of Check Point Software Technologies by 48.5% during the 4th quarter. Centaurus Financial Inc. now owns 3,777 shares of the technology company's stock worth $705,000 after purchasing an additional 1,234 shares during the period. Capstone Triton Financial Group LLC lifted its position in Check Point Software Technologies by 1.3% in the fourth quarter. Capstone Triton Financial Group LLC now owns 10,863 shares of the technology company's stock valued at $2,028,000 after buying an additional 138 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new position in Check Point Software Technologies during the fourth quarter worth about $1,373,000. Menard Financial Group LLC purchased a new position in Check Point Software Technologies during the fourth quarter worth about $41,000. Finally, Brucke Financial Inc. purchased a new stake in shares of Check Point Software Technologies in the 4th quarter valued at approximately $214,000. Institutional investors and hedge funds own 98.51% of the company's stock.

Check Point Software Technologies Company Profile

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.