Check Point Software Technologies (NASDAQ:CHKP) Cut to Hold at StockNews.com

StockNews.com lowered shares of Check Point Software Technologies (NASDAQ:CHKP) from a buy rating to a hold rating in a research note released on Thursday.

A number of other equities research analysts have also recently issued reports on CHKP. Barclays upped 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 report on Thursday, January 30th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $200.00 price objective on shares of Check Point Software Technologies in a report on Monday, January 27th. Stifel Nicolaus upped their price target on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a report on Friday, January 31st. Piper Sandler upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $220.00 to $260.00 in a report on Monday, March 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price target on shares of Check Point Software Technologies in a report on Thursday, February 27th. Eighteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Check Point Software Technologies presently has an average rating of “Hold” and a consensus target price of $227.26.

Check Point Software Technologies Trading Up 4.6 %

Shares of NASDAQ:CHKP opened at $224.84 on Thursday. The stock has a market capitalization of $24.73 billion, a PE ratio of 30.10, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $230.65. The firm has a fifty day moving average price of $208.38 and a 200 day moving average price of $195.79.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CHKP. Gitterman Wealth Management LLC increased its holdings in shares of Check Point Software Technologies by 3.2% during the fourth quarter. Gitterman Wealth Management LLC now owns 1,533 shares of the technology company’s stock worth $286,000 after buying an additional 48 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Check Point Software Technologies by 1.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,095 shares of the technology company’s stock valued at $578,000 after purchasing an additional 52 shares during the last quarter. Argonautica Private Wealth Management Inc. grew its stake in shares of Check Point Software Technologies by 0.9% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,002 shares of the technology company’s stock valued at $1,121,000 after purchasing an additional 56 shares during the last quarter. Regatta Capital Group LLC boosted its stake in Check Point Software Technologies by 4.9% in the fourth quarter. Regatta Capital Group LLC now owns 1,229 shares of the technology company’s stock valued at $229,000 after acquiring an additional 57 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in Check Point Software Technologies by 3.1% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,891 shares of the technology company’s stock valued at $353,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds 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.