Check Point Software Technologies (NASDAQ:CHKP) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Check Point Software Technologies (NASDAQ:CHKP) had its price target lifted by equities researchers at Morgan Stanley from $183.00 to $200.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target would suggest a potential downside of 8.27% from the company’s previous close.

Several other research firms have also issued reports on CHKP. BMO Capital Markets raised their target price on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Wedbush raised their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 target price on shares of Check Point Software Technologies in a research note on Monday, January 27th. Mizuho boosted their price objective on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their target price on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Nineteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $215.27.

Check Point Software Technologies Stock Performance

NASDAQ:CHKP opened at $218.02 on Friday. The stock’s fifty day moving average is $188.67 and its 200 day moving average is $187.76. The firm has a market capitalization of $23.98 billion, a PE ratio of 29.78, a PEG ratio of 3.19 and a beta of 0.63. Check Point Software Technologies has a fifty-two week low of $145.75 and a fifty-two week high of $226.02.

Institutional Trading of Check Point Software Technologies

A number of institutional investors have recently modified their holdings of CHKP. FSA Wealth Management LLC purchased a new stake in Check Point Software Technologies during the third quarter valued at approximately $27,000. GAMMA Investing LLC increased its position in shares of Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after purchasing an additional 60 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Check Point Software Technologies during the 3rd quarter valued at $33,000. Golden State Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies in the 4th quarter worth $35,000. Finally, Strategic Financial Concepts LLC purchased a new position in Check Point Software Technologies during the 4th quarter worth $35,000. 98.51% of the stock is currently owned by 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.