Wedbush Reiterates Outperform Rating for Check Point Software Technologies (NASDAQ:CHKP)

Wedbush reissued their outperform rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $240.00 price objective on the technology company’s stock.

A number of other analysts have also recently issued reports on the company. The Goldman Sachs Group cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and upped their target price for the company from $204.00 to $207.00 in a research report on Thursday, January 2nd. Morgan Stanley decreased their price objective on Check Point Software Technologies from $235.00 to $220.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. raised shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $221.00 to $255.00 in a report on Wednesday, February 26th. Citigroup increased their price target on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, Scotiabank reduced their target price on shares of Check Point Software Technologies from $250.00 to $240.00 and set a “sector outperform” rating for the company in a report on Thursday. Eighteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Check Point Software Technologies presently has an average rating of “Hold” and an average target price of $232.04.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $208.88 on Thursday. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $234.36. The stock has a market cap of $22.97 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. The firm has a fifty day moving average price of $220.73 and a 200 day moving average price of $201.95.

Hedge Funds Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nemes Rush Group LLC acquired a new stake in Check Point Software Technologies in the fourth quarter valued at $25,000. Capital A Wealth Management LLC acquired a new stake in Check Point Software Technologies in the 4th quarter valued at about $29,000. GAMMA Investing LLC increased 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 valued at $32,000 after acquiring an additional 60 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Check Point Software Technologies during the fourth quarter worth about $35,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $35,000. 98.51% of the stock is owned by institutional investors and hedge funds.

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.