Stephens Begins Coverage on Check Point Software Technologies (NASDAQ:CHKP)

Stock analysts at Stephens initiated coverage on shares of Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) in a report released on Tuesday, MarketBeat reports. The firm set an "equal weight" rating and a $255.00 price target on the technology company's stock. Stephens' price target indicates a potential upside of 18.32% from the stock's current price.

A number of other research firms have also recently weighed in on CHKP. Cantor Fitzgerald restated a "neutral" rating and issued a $200.00 price target on shares of Check Point Software Technologies in a research note on Monday, January 27th. Needham & Company LLC reiterated a "hold" rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Barclays upped 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 report on Thursday, January 30th. Jefferies Financial Group increased their price objective on Check Point Software Technologies from $250.00 to $255.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, Stifel Nicolaus upped their price target on Check Point Software Technologies from $190.00 to $220.00 and gave the stock a "hold" rating in a research note on Friday, January 31st. Sixteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $236.13.

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Check Point Software Technologies Stock Down 3.8 %

Check Point Software Technologies stock traded down $8.50 during trading on Tuesday, reaching $215.52. The stock had a trading volume of 1,263,663 shares, compared to its average volume of 744,356. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $234.36. The business has a 50 day moving average price of $220.78 and a 200 day moving average price of $199.64. The stock has a market cap of $23.70 billion, a PE ratio of 28.85, a P/E/G ratio of 3.41 and a beta of 0.62.

Institutional Investors Weigh In On Check Point Software Technologies

Several hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in Check Point Software Technologies in the 4th quarter worth approximately $428,820,000. Clearbridge Investments LLC purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at $100,456,000. Causeway Capital Management LLC increased its stake 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. Altshuler Shaham Ltd purchased a new position in Check Point Software Technologies during the fourth quarter worth about $73,186,000. Finally, First Trust Advisors LP boosted its stake in Check Point Software Technologies by 17.4% in the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company's stock worth $340,314,000 after buying an additional 269,925 shares during the last quarter. 98.51% of the stock is 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.