Wells Fargo & Company Issues Pessimistic Forecast for Check Point Software Technologies (NASDAQ:CHKP) Stock Price

Check Point Software Technologies (NASDAQ:CHKP) had its target price cut by research analysts at Wells Fargo & Company from $280.00 to $265.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 28.30% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Truist Financial reiterated a “buy” rating and set a $250.00 price objective (up from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. The Goldman Sachs Group lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and upped their price target for the company from $204.00 to $207.00 in a research report on Thursday, January 2nd. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Susquehanna lifted their target price on Check Point Software Technologies from $215.00 to $255.00 and gave the company a “positive” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group increased their price target on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Eighteen investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $232.04.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $206.55 on Thursday. Check Point Software Technologies has a one year low of $145.75 and a one year high of $234.36. The company has a 50-day moving average of $220.45 and a two-hundred day moving average of $202.01. The stock has a market cap of $22.72 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 3.41 and a beta of 0.62.

Institutional Investors Weigh In On Check Point Software Technologies

A number of hedge funds have recently bought and sold shares of CHKP. Nemes Rush Group LLC bought a new position in shares of Check Point Software Technologies in the fourth quarter worth about $25,000. Capital A Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the fourth quarter worth approximately $29,000. GAMMA Investing LLC boosted 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 valued at $32,000 after acquiring an additional 60 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies in the fourth quarter worth $35,000. Finally, Quarry LP increased its position in Check Point Software Technologies by 100.0% during the fourth quarter. Quarry LP now owns 206 shares of the technology company’s stock worth $38,000 after acquiring an additional 103 shares during the period. 98.51% of the stock is currently owned by institutional investors.

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.