Check Point Software Technologies (NASDAQ:CHKP) Receives Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a report released on Thursday,Benzinga reports. They currently have a $215.00 price target on the technology company’s stock.

A number of other analysts have also issued reports on CHKP. Scotiabank lifted their price objective on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the company a “sector outperform” rating in a research note on Friday, January 31st. Morgan Stanley lifted their price target on shares of Check Point Software Technologies from $183.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Citigroup upped their price objective on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Cantor Fitzgerald restated a “neutral” rating and set a $200.00 target price on shares of Check Point Software Technologies in a research note on Monday, January 27th. Finally, Mizuho boosted their price target on Check Point Software Technologies from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Wednesday. Eighteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Check Point Software Technologies presently has a consensus rating of “Hold” and an average target price of $221.91.

Check Point Software Technologies Stock Performance

CHKP stock opened at $216.69 on Thursday. The firm has a market cap of $23.83 billion, a P/E ratio of 29.01, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $226.02. The stock has a 50-day simple moving average of $200.74 and a 200-day simple moving average of $193.03.

Institutional Trading of Check Point Software Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its stake in shares of Check Point Software Technologies by 32.2% in the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after acquiring an additional 20,866 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Check Point Software Technologies during the 3rd quarter valued at $1,599,000. Truist Financial Corp increased its position in shares of Check Point Software Technologies by 2.6% during the 4th quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock valued at $22,311,000 after purchasing an additional 3,080 shares during the period. MML Investors Services LLC raised its stake in shares of Check Point Software Technologies by 3.7% in the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock worth $19,957,000 after buying an additional 3,655 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Check Point Software Technologies by 14.5% in the fourth quarter. CIBC Asset Management Inc now owns 9,589 shares of the technology company’s stock valued at $1,790,000 after buying an additional 1,215 shares during the period. 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.