Check Point Software Technologies (NASDAQ:CHKP) Upgraded by Baird R W to “Strong-Buy” Rating

Baird R W upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a hold rating to a strong-buy rating in a report released on Thursday morning,Zacks.com reports.

Several other analysts also recently commented on CHKP. Scotiabank raised their target price on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the stock a “sector outperform” rating in a report on Friday, January 31st. Citigroup boosted their target price on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. UBS Group lifted 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 research report on Friday, January 31st. Guggenheim reiterated a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Finally, Bank of America downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $205.00 to $195.00 in a research report on Wednesday, October 30th. Eighteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $221.91.

Check Point Software Technologies Stock Performance

CHKP opened at $216.69 on Thursday. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $226.02. The firm has a market cap of $23.83 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65. The firm’s fifty day moving average is $200.74 and its two-hundred day moving average is $193.03.

Hedge Funds Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC lifted its stake in Check Point Software Technologies by 6.1% during the third quarter. Private Advisor Group LLC now owns 2,108 shares of the technology company’s stock worth $406,000 after purchasing an additional 121 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Check Point Software Technologies by 115.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,992 shares of the technology company’s stock valued at $963,000 after buying an additional 2,674 shares in the last quarter. abrdn plc grew its position in Check Point Software Technologies by 40.5% in the third quarter. abrdn plc now owns 18,460 shares of the technology company’s stock valued at $3,559,000 after acquiring an additional 5,321 shares during the last quarter. Integrated Advisors Network LLC acquired a new position in Check Point Software Technologies during the third quarter worth about $210,000. Finally, Principal Securities Inc. lifted its holdings in shares of Check Point Software Technologies by 6.8% in the third quarter. Principal Securities Inc. now owns 28,352 shares of the technology company’s stock worth $5,467,000 after acquiring an additional 1,810 shares during the last quarter. 98.51% of the stock is currently 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.