Stephens Upgrades Check Point Software Technologies (NASDAQ:CHKP) to Strong-Buy

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) was upgraded by analysts at Stephens to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other analysts also recently weighed in on CHKP. Barclays lifted their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Piper Sandler raised Check Point Software Technologies from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $220.00 to $260.00 in a research report on Monday, March 3rd. Jefferies Financial Group lifted their price objective on Check Point Software Technologies from $250.00 to $255.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Stifel Nicolaus increased their target price on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the stock a "hold" rating in a report on Friday, January 31st. Sixteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $236.13.

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Check Point Software Technologies Stock Down 3.8 %

CHKP stock traded down $8.50 during trading on Monday, hitting $215.52. The company had a trading volume of 1,263,663 shares, compared to its average volume of 745,459. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $234.36. The company has a 50 day simple moving average of $220.78 and a 200-day simple moving average of $199.70. The firm has a market capitalization of $23.70 billion, a P/E ratio of 28.85, a PEG ratio of 3.41 and a beta of 0.62.

Institutional Investors Weigh In On Check Point Software Technologies

A number of large investors have recently made changes to their positions in CHKP. Gitterman Wealth Management LLC grew its stake in Check Point Software Technologies by 3.2% during the 4th quarter. Gitterman Wealth Management LLC now owns 1,533 shares of the technology company's stock valued at $286,000 after purchasing an additional 48 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Check Point Software Technologies by 1.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,095 shares of the technology company's stock worth $578,000 after purchasing an additional 52 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Check Point Software Technologies by 19.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 336 shares of the technology company's stock worth $77,000 after buying an additional 55 shares during the period. Argonautica Private Wealth Management Inc. increased its stake in shares of Check Point Software Technologies by 0.9% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,002 shares of the technology company's stock worth $1,121,000 after acquiring an additional 56 shares during the period. Finally, Regatta Capital Group LLC raised its holdings in shares of Check Point Software Technologies by 4.9% during the fourth quarter. Regatta Capital Group LLC now owns 1,229 shares of the technology company's stock worth $229,000 after purchasing an additional 57 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

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.