Check Point Software Technologies (NASDAQ:CHKP) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Check Point Software Technologies (NASDAQ:CHKP - Free Report) in a report published on Tuesday, Marketbeat.com reports. The firm issued an equal weight rating and a $235.00 price target on the technology company's stock.

A number of other analysts also recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $221.00 to $255.00 in a research report on Wednesday, February 26th. Mizuho lifted their price objective on shares of Check Point Software Technologies from $220.00 to $230.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Piper Sandler raised shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $220.00 to $260.00 in a research note on Monday, March 3rd. Wells Fargo & Company raised shares of Check Point Software Technologies from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $200.00 to $280.00 in a research note on Friday, March 14th. Finally, Barclays lifted their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. Seventeen analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $229.86.

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Check Point Software Technologies Stock Performance

Shares of CHKP stock traded down $1.17 during midday trading on Tuesday, reaching $227.97. 1,071,844 shares of the company were exchanged, compared to its average volume of 711,429. Check Point Software Technologies has a 12 month low of $145.75 and a 12 month high of $232.37. The company has a market cap of $25.07 billion, a P/E ratio of 30.52, a PEG ratio of 3.41 and a beta of 0.62. The company's 50 day moving average price is $213.13 and its two-hundred day moving average price is $197.13.

Institutional Trading of Check Point Software Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Nemes Rush Group LLC acquired a new stake in shares of Check Point Software Technologies in the fourth quarter worth $25,000. FSA Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies in the third quarter worth $27,000. Capital A Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies in the fourth quarter worth $29,000. GAMMA Investing LLC lifted its stake 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 buying an additional 60 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies in the fourth quarter worth $35,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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.