Check Point Software Technologies (NASDAQ:CHKP) Rating Lowered to “Hold” at StockNews.com

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

A number of other research analysts have also commented on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 price target on shares of Check Point Software Technologies in a report on Monday, January 27th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. BMO Capital Markets upgraded shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $245.00 to $275.00 in a research report on Friday. Barclays increased their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, Scotiabank boosted their target price on Check Point Software Technologies from $215.00 to $250.00 and gave the stock a “sector outperform” rating in a report on Friday, January 31st. Sixteen investment analysts have rated the stock with a hold rating, eleven have issued 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 has a consensus rating of “Hold” and an average price target of $234.18.

Check Point Software Technologies Price Performance

Shares of CHKP stock opened at $228.37 on Friday. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $234.36. The firm has a market capitalization of $25.12 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. The business has a 50 day simple moving average of $217.58 and a 200 day simple moving average of $198.60.

Institutional Trading of Check Point Software Technologies

Several large investors have recently added to or reduced their stakes in the company. Nemes Rush Group LLC purchased a new position in shares of Check Point Software Technologies during the fourth quarter valued at $25,000. FSA Wealth Management LLC purchased a new position in Check Point Software Technologies during the 3rd quarter valued at about $27,000. Capital A Wealth Management LLC acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at about $29,000. GAMMA Investing LLC lifted its position in shares of Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after purchasing an additional 60 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies during the fourth quarter worth approximately $35,000. 98.51% of the stock is owned by institutional investors and hedge funds.

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.