Check Point Software Technologies' (CHKP) Hold Rating Reaffirmed at Needham & Company LLC

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report)'s stock had its "hold" rating restated by stock analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports.

A number of other brokerages have also issued reports on CHKP. Truist Financial reissued a "buy" rating and issued a $250.00 target price (up previously from $220.00) on shares of Check Point Software Technologies 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 stock from $204.00 to $207.00 in a research note on Thursday, January 2nd. Mizuho lifted their price objective on shares of Check Point Software Technologies from $220.00 to $230.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. BMO Capital Markets upped their target price on shares of Check Point Software Technologies from $215.00 to $245.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley raised their price target on shares of Check Point Software Technologies from $183.00 to $200.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Eighteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $224.86.

Check Point Software Technologies Stock Up 0.4 %

CHKP stock traded up $0.83 during mid-day trading on Thursday, hitting $221.09. 895,898 shares of the company were exchanged, compared to its average volume of 913,692. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $226.02. The firm has a market capitalization of $24.32 billion, a P/E ratio of 29.60, a PEG ratio of 3.41 and a beta of 0.65. The business has a fifty day simple moving average of $201.38 and a 200-day simple moving average of $193.45.

Institutional Trading of Check Point Software Technologies

Several institutional investors and hedge funds have recently bought and sold shares of CHKP. Norges Bank purchased a new position in Check Point Software Technologies during the 4th quarter worth $428,820,000. Clearbridge Investments LLC acquired a new stake in Check Point Software Technologies in the fourth quarter valued at about $100,456,000. Causeway Capital Management LLC increased its position in Check Point Software Technologies by 33.8% during the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock worth $360,257,000 after purchasing an additional 487,823 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Check Point Software Technologies by 73.8% in the 3rd 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 shares of Check Point Software Technologies in the fourth quarter valued at approximately $73,186,000. Hedge funds and other institutional investors own 98.51% of the company's stock.

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.