Check Point Software Technologies (NASDAQ:CHKP) Downgraded by StockNews.com to “Hold”

Check Point Software Technologies (NASDAQ:CHKP) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued reports about the stock. Susquehanna boosted their target price on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a research note on Friday, January 31st. Morgan Stanley began coverage on shares of Check Point Software Technologies in a research report on Tuesday, March 18th. They issued an “equal weight” rating and a $235.00 price objective for the company. Arete Research upgraded Check Point Software Technologies to a “hold” rating in a research report on Monday, February 24th. The Goldman Sachs Group cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and lifted their target price for the company from $204.00 to $207.00 in a research note on Thursday, January 2nd. Finally, Robert W. Baird raised Check Point Software Technologies from a “neutral” rating to an “outperform” rating and upped their price target for the company from $235.00 to $255.00 in a research note on Thursday, February 27th. Sixteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Check Point Software Technologies has an average rating of “Hold” and an average target price of $234.18.

Check Point Software Technologies Stock Down 1.3 %

Check Point Software Technologies stock opened at $228.37 on Friday. The stock has a 50-day simple moving average of $217.58 and a 200 day simple moving average of $198.48. The stock has a market capitalization of $25.12 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $234.36.

Institutional Trading of Check Point Software Technologies

Hedge funds have recently added to or reduced their stakes in the business. Nemes Rush Group LLC acquired a new position in Check Point Software Technologies in the fourth quarter valued at about $25,000. FSA Wealth Management LLC acquired a new position in shares of Check Point Software Technologies in the 3rd quarter valued at approximately $27,000. Capital A Wealth Management LLC acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at approximately $29,000. GAMMA Investing LLC raised its holdings in Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after buying an additional 60 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in Check Point Software Technologies during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds 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.