Check Point Software Technologies' (CHKP) "Sector Perform" Rating Reiterated at Royal Bank of Canada

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report)'s stock had its "sector perform" rating reissued by Royal Bank of Canada in a report issued on Wednesday, Benzinga reports. They presently have a $187.00 price target on the technology company's stock. Royal Bank of Canada's target price would suggest a potential upside of 6.48% from the company's previous close.

Several other brokerages also recently weighed in on CHKP. Robert W. Baird cut their price target on Check Point Software Technologies from $210.00 to $205.00 and set a "neutral" rating on the stock in a report on Wednesday. Wedbush boosted their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a "hold" rating in a research report on Thursday, July 25th. Scotiabank upped their price target on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the company a "sector outperform" rating in a research report on Thursday, July 25th. Finally, Truist Financial raised their price objective on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Sixteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $197.74.

Check Point Software Technologies Stock Down 1.3 %

CHKP stock traded down $2.25 during midday trading on Wednesday, hitting $175.62. The company's stock had a trading volume of 470,101 shares, compared to its average volume of 688,732. Check Point Software Technologies has a 52-week low of $129.13 and a 52-week high of $210.70. The firm has a 50-day simple moving average of $195.52 and a 200-day simple moving average of $174.67. The firm has a market capitalization of $19.32 billion, a P/E ratio of 24.26, a PEG ratio of 3.17 and a beta of 0.62.

Hedge Funds Weigh In On Check Point Software Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Check Point Software Technologies by 8.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 97,434 shares of the technology company's stock worth $15,980,000 after purchasing an additional 7,357 shares during the last quarter. Norden Group LLC bought a new stake in Check Point Software Technologies during the 1st quarter valued at $200,000. Van ECK Associates Corp boosted its position in Check Point Software Technologies by 8.9% during the 1st quarter. Van ECK Associates Corp now owns 49,708 shares of the technology company's stock worth $8,152,000 after acquiring an additional 4,056 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Check Point Software Technologies by 31.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 342,750 shares of the technology company's stock worth $56,214,000 after acquiring an additional 82,045 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Check Point Software Technologies by 11.5% in the 1st quarter. BNP Paribas Financial Markets now owns 96,302 shares of the technology company's stock valued at $15,794,000 after acquiring an additional 9,971 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.

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