Check Point Software Technologies Ltd. (NASDAQ:CHKP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) have been given an average recommendation of “Hold” by the twenty-seven brokerages that are currently covering the company, MarketBeat Ratings reports. Seventeen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $229.86.

CHKP has been the subject of a number of research analyst reports. Mizuho upped their price objective on shares of Check Point Software Technologies from $220.00 to $230.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Citigroup increased their price target on Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Susquehanna boosted their price objective on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a research report on Friday, January 31st. Arete Research raised Check Point Software Technologies to a “hold” rating in a report on Monday, February 24th. Finally, Piper Sandler upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $220.00 to $260.00 in a report on Monday, March 3rd.

Check Point Software Technologies Trading Up 0.0 %

Shares of NASDAQ CHKP opened at $228.05 on Tuesday. The stock has a 50-day moving average price of $214.04 and a two-hundred day moving average price of $197.46. Check Point Software Technologies has a 12 month low of $145.75 and a 12 month high of $232.37. The company has a market cap of $25.08 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 3.41 and a beta of 0.62.

Institutional Investors Weigh In On Check Point Software Technologies

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Check Point Software Technologies during the 4th quarter worth approximately $428,820,000. Causeway Capital Management LLC boosted its stake in Check Point Software Technologies by 33.8% during the fourth 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 in the last quarter. First Trust Advisors LP grew its holdings in 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 worth $340,314,000 after purchasing an additional 269,925 shares during the period. Ameriprise Financial Inc. increased its stake in 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 purchasing an additional 136,699 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after purchasing an additional 252,581 shares during the period. 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.