Check Point Software Technologies (NASDAQ:CHKP) Sets New 12-Month High – Here’s Why

Check Point Software Technologies Ltd. (NASDAQ:CHKP) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $231.56 and last traded at $231.09, with a volume of 691059 shares trading hands. The stock had previously closed at $224.84.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CHKP shares. UBS Group increased their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, January 31st. BMO Capital Markets lifted their price target on shares of Check Point Software Technologies from $215.00 to $245.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Arete Research upgraded Check Point Software Technologies to a “hold” rating in a report on Monday, February 24th. Truist Financial restated a “buy” rating and issued a $250.00 price target (up from $220.00) on shares of Check Point Software Technologies in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $221.00 to $255.00 in a report on Wednesday, February 26th. Eighteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Check Point Software Technologies presently has an average rating of “Hold” and an average price target of $229.86.

Check Point Software Technologies Stock Performance

The stock’s fifty day moving average price is $210.35 and its two-hundred day moving average price is $196.37. The company has a market cap of $25.40 billion, a P/E ratio of 30.94, a P/E/G ratio of 3.41 and a beta of 0.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CHKP. Nemes Rush Group LLC acquired a new stake in shares of Check Point Software Technologies during the 4th quarter valued at $25,000. FSA Wealth Management LLC bought a new position in Check Point Software Technologies in the 3rd quarter valued at approximately $27,000. Capital A Wealth Management LLC acquired a new stake in Check Point Software Technologies during the 4th quarter worth approximately $29,000. GAMMA Investing LLC grew its holdings in Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after acquiring an additional 60 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in Check Point Software Technologies in the 4th quarter valued at approximately $35,000. Institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Company Profile

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.