Check Point Software Technologies (NASDAQ:CHKP) Sets New 52-Week High - Should You Buy?

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $231.56 and last traded at $231.09, with a volume of 691059 shares traded. The stock had previously closed at $224.84.

Analyst Upgrades and Downgrades

CHKP has been the topic of several recent analyst reports. Wells Fargo & Company upgraded Check Point Software Technologies from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $200.00 to $280.00 in a research note on Friday, March 14th. Mizuho boosted their price target on Check Point Software Technologies from $220.00 to $230.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Needham & Company LLC reissued a "hold" rating on shares of Check Point Software Technologies in a report on Thursday, February 27th. Jefferies Financial Group upped their price objective on Check Point Software Technologies from $250.00 to $255.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, Susquehanna upped their price objective on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a "positive" rating in a research note on Friday, January 31st. Eighteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $229.86.

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Check Point Software Technologies Trading Up 0.3 %

The firm has a market cap of $25.27 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 3.41 and a beta of 0.62. The business's 50-day simple moving average is $212.21 and its two-hundred day simple moving average is $196.84.

Institutional Investors Weigh In On Check Point Software Technologies

Several large investors have recently made changes to their positions in CHKP. Norges Bank purchased a new position in Check Point Software Technologies during the 4th quarter valued at about $428,820,000. Clearbridge Investments LLC bought a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $100,456,000. Causeway Capital Management LLC lifted its position in 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 valued at $360,257,000 after purchasing an additional 487,823 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Check Point Software Technologies by 73.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company's stock valued at $211,105,000 after buying an additional 464,821 shares during the period. Finally, Altshuler Shaham Ltd purchased a new stake in Check Point Software Technologies in the fourth quarter worth $73,186,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

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.