Check Point Software Technologies (NASDAQ:CHKP) Upgraded to “Buy” at StockNews.com

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Other analysts also recently issued research reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Arete Research raised shares of Check Point Software Technologies to a “hold” rating in a research report on Monday, February 24th. Stifel Nicolaus increased their target price on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Robert W. Baird raised shares of Check Point Software Technologies from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $235.00 to $255.00 in a research report on Thursday, February 27th. Finally, Jefferies Financial Group raised their price objective on shares of 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. Seventeen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target of $229.86.

Check Point Software Technologies Stock Performance

Shares of Check Point Software Technologies stock traded down $1.17 on Friday, hitting $227.97. The stock had a trading volume of 1,071,844 shares, compared to its average volume of 710,289. The stock has a 50 day moving average of $213.13 and a 200 day moving average of $197.08. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $241.98. The firm has a market capitalization of $25.07 billion, a P/E ratio of 30.52, a PEG ratio of 3.41 and a beta of 0.62.

Hedge Funds Weigh In On Check Point Software Technologies

Several large investors have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its stake in Check Point Software Technologies by 0.4% during the 4th quarter. California State Teachers Retirement System now owns 121,530 shares of the technology company’s stock valued at $22,690,000 after acquiring an additional 470 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Check Point Software Technologies by 2.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,136 shares of the technology company’s stock valued at $959,000 after purchasing an additional 144 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Check Point Software Technologies during the 4th quarter valued at $3,756,000. Centaurus Financial Inc. increased its position in shares of Check Point Software Technologies by 48.5% during the 4th quarter. Centaurus Financial Inc. now owns 3,777 shares of the technology company’s stock valued at $705,000 after purchasing an additional 1,234 shares during the last quarter. Finally, Capstone Triton Financial Group LLC increased its position in shares of Check Point Software Technologies by 1.3% during the 4th quarter. Capstone Triton Financial Group LLC now owns 10,863 shares of the technology company’s stock valued at $2,028,000 after purchasing an additional 138 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

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.