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

StockNews.com upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a hold rating to a buy rating in a research report sent to investors on Friday.

A number of other equities research analysts also recently weighed in on the company. Arete Research upgraded Check Point Software Technologies to a “hold” rating in a report on Monday, February 24th. Cantor Fitzgerald restated a “neutral” rating and set a $200.00 price objective on shares of Check Point Software Technologies in a report on Monday, January 27th. Baird R W upgraded Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $221.00 to $255.00 in a report on Wednesday, February 26th. Finally, Guggenheim restated a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 31st. Seventeen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and an average price target of $229.86.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $227.97 on Friday. The company has a market cap of $25.07 billion, a P/E ratio of 30.52, a PEG ratio of 3.41 and a beta of 0.62. The stock has a 50 day simple moving average of $213.13 and a two-hundred day simple moving average of $197.08. Check Point Software Technologies has a fifty-two week low of $145.75 and a fifty-two week high of $232.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Check Point Software Technologies in the fourth quarter valued at $428,820,000. Causeway Capital Management LLC raised its stake in shares of Check Point Software Technologies by 33.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock valued at $360,257,000 after buying an additional 487,823 shares during the period. First Trust Advisors LP raised its stake in shares of Check Point Software Technologies by 17.4% in the fourth quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock valued at $340,314,000 after buying an additional 269,925 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Check Point Software Technologies by 10.6% in the fourth quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company’s stock valued at $266,930,000 after buying an additional 136,699 shares during the period. Finally, FMR LLC raised its stake in shares of Check Point Software Technologies by 28.7% in the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after buying an additional 252,581 shares during the period. Hedge funds and other 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.