Check Point Software Technologies (NASDAQ:CHKP) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Several other equities research analysts also recently issued reports on the stock. Barclays raised their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Wells Fargo & Company upgraded shares of Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $200.00 to $280.00 in a report on Friday, March 14th. Stifel Nicolaus increased their target price on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Cantor Fitzgerald restated a “neutral” rating and set a $200.00 price target on shares of Check Point Software Technologies in a research note on Monday, January 27th. Finally, Susquehanna raised their price objective on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a research report on Friday, January 31st. Fifteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $236.13.

Check Point Software Technologies Stock Performance

Shares of Check Point Software Technologies stock traded down $7.58 during midday trading on Wednesday, reaching $211.83. 595,392 shares of the company’s stock traded hands, compared to its average volume of 758,985. The company has a market cap of $23.30 billion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a 52 week low of $145.75 and a 52 week high of $234.36. The company’s 50 day simple moving average is $221.32 and its 200 day simple moving average is $200.39.

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 company. Hennion & Walsh Asset Management Inc. lifted its holdings in Check Point Software Technologies by 6.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 6,176 shares of the technology company’s stock worth $1,408,000 after acquiring an additional 354 shares in the last quarter. Merit Financial Group LLC lifted its holdings in shares of Check Point Software Technologies by 9.2% during the 1st quarter. Merit Financial Group LLC now owns 17,561 shares of the technology company’s stock valued at $4,003,000 after purchasing an additional 1,482 shares in the last quarter. Meyer Handelman Co. grew its position in shares of Check Point Software Technologies by 9.3% in the 1st quarter. Meyer Handelman Co. now owns 45,239 shares of the technology company’s stock valued at $10,311,000 after purchasing an additional 3,850 shares during the period. GAMMA Investing LLC increased its stake in Check Point Software Technologies by 20,320.8% during the 1st quarter. GAMMA Investing LLC now owns 35,328 shares of the technology company’s stock worth $8,052,000 after purchasing an additional 35,155 shares in the last quarter. Finally, Moody National Bank Trust Division increased its stake in Check Point Software Technologies by 2.5% during the 1st quarter. Moody National Bank Trust Division now owns 3,074 shares of the technology company’s stock worth $701,000 after purchasing an additional 74 shares in the last quarter. 98.51% of the stock is owned by institutional investors.

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.