Check Point Software Technologies (NASDAQ:CHKP) Raised to “Overweight” at Wells Fargo & Company

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm currently has a $280.00 price target on the technology company’s stock, up from their prior price target of $200.00. Wells Fargo & Company‘s price objective suggests a potential upside of 30.29% from the stock’s previous close.

Several other equities analysts have also issued reports on CHKP. UBS Group boosted their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Piper Sandler raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $220.00 to $260.00 in a research report on Monday, March 3rd. Robert W. Baird raised Check Point Software Technologies from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $235.00 to $255.00 in a research report on Thursday, February 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 price target on shares of Check Point Software Technologies in a research report on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Eighteen analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $227.26.

Check Point Software Technologies Trading Down 1.4 %

Check Point Software Technologies stock opened at $214.90 on Friday. The firm has a market capitalization of $23.64 billion, a P/E ratio of 28.77, a PEG ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $230.65. The business has a 50-day moving average of $207.51 and a 200-day moving average of $195.49.

Hedge Funds Weigh In On Check Point Software Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Centaurus Financial Inc. lifted its stake in shares of Check Point Software Technologies by 48.5% in the fourth quarter. Centaurus Financial Inc. now owns 3,777 shares of the technology company’s stock worth $705,000 after acquiring an additional 1,234 shares during the period. Capstone Triton Financial Group LLC increased its holdings in Check Point Software Technologies by 1.3% in the fourth quarter. Capstone Triton Financial Group LLC now owns 10,863 shares of the technology company’s stock worth $2,028,000 after purchasing an additional 138 shares in the last quarter. Siemens Fonds Invest GmbH bought a new stake in Check Point Software Technologies in the fourth quarter worth approximately $1,373,000. Menard Financial Group LLC bought a new stake in Check Point Software Technologies in the fourth quarter worth approximately $41,000. Finally, Brucke Financial Inc. bought a new stake in Check Point Software Technologies in the fourth quarter worth approximately $214,000. 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.