Check Point Software Technologies (NASDAQ:CHKP) Upgraded to Strong-Buy at Baird R W

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by equities researchers at Baird R W from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages have also issued reports on CHKP. The Goldman Sachs Group lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and boosted their price target for the company from $204.00 to $207.00 in a research note on Thursday, January 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday. Truist Financial reaffirmed a “buy” rating and set a $250.00 target price (up from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. Citigroup upped their target price on Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 target price on shares of Check Point Software Technologies in a research report on Thursday. Eighteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $221.91.

Check Point Software Technologies Stock Performance

Shares of CHKP opened at $220.26 on Thursday. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $226.02. The business’s 50 day moving average price is $201.38 and its two-hundred day moving average price is $193.31. The firm has a market cap of $24.22 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in Check Point Software Technologies in the 4th quarter valued at $428,820,000. Causeway Capital Management LLC increased its holdings in Check Point Software Technologies by 33.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock worth $360,257,000 after acquiring an additional 487,823 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Check Point Software Technologies by 10.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock worth $354,153,000 after acquiring an additional 177,104 shares during the last quarter. First Trust Advisors LP increased its holdings in Check Point Software Technologies by 17.4% in the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock worth $340,314,000 after acquiring an additional 269,925 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Check Point Software Technologies by 10.6% in the 4th quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company’s stock worth $266,930,000 after acquiring an additional 136,699 shares during the last quarter. Institutional investors 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.