Check Point Software Technologies (NASDAQ:CHKP) Rating Increased to Strong-Buy at Stephens

Stephens upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on the stock. Piper Sandler upgraded shares of 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 research report on Monday, March 3rd. JPMorgan Chase & Co. upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $221.00 to $255.00 in a report on Wednesday, February 26th. Wells Fargo & Company upgraded shares of Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $200.00 to $280.00 in a report on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price objective on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Sixteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Check Point Software Technologies presently has an average rating of “Moderate Buy” and an average price target of $235.09.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $230.84 on Monday. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $234.36. The business’s fifty day moving average is $219.14 and its 200-day moving average is $199.11. The stock has a market cap of $25.39 billion, a PE ratio of 30.90, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62.

Hedge Funds Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nemes Rush Group LLC acquired a new position in shares of Check Point Software Technologies during the 4th quarter worth $25,000. Capital A Wealth Management LLC acquired a new position in Check Point Software Technologies during the fourth quarter worth $29,000. GAMMA Investing LLC raised its holdings in Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after buying an additional 60 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies in the fourth quarter worth about $35,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Check Point Software Technologies during the 4th quarter worth about $35,000. Institutional investors own 98.51% of the company’s stock.

About Check Point Software Technologies

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.