Check Point Software Technologies (NASDAQ:CHKP) Stock Rating Upgraded by Bank of America

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $260.00 price objective on the technology company’s stock, up from their prior price objective of $230.00. Bank of America‘s price objective indicates a potential upside of 13.85% from the company’s current price.

Several other equities analysts have also issued reports on the company. Citigroup lifted their price target on Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Truist Financial reiterated a “buy” rating and issued a $250.00 target price (up previously from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. UBS Group upped their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Arete Research upgraded Check Point Software Technologies to a “hold” rating in a research report on Monday, February 24th. Finally, Baird R W upgraded Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Fifteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Check Point Software Technologies currently has an average rating of “Moderate Buy” and an average target price of $234.18.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $228.37 on Thursday. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $234.36. The stock 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 company’s 50 day simple moving average is $217.58 and its 200 day simple moving average is $198.48.

Institutional Investors Weigh In On Check Point Software Technologies

Several large investors have recently added to or reduced their stakes in CHKP. Gitterman Wealth Management LLC boosted its holdings in shares of Check Point Software Technologies by 3.2% during the 4th quarter. Gitterman Wealth Management LLC now owns 1,533 shares of the technology company’s stock worth $286,000 after buying an additional 48 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in Check Point Software Technologies by 1.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,095 shares of the technology company’s stock worth $578,000 after purchasing an additional 52 shares during the period. Argonautica Private Wealth Management Inc. increased its stake in Check Point Software Technologies by 0.9% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,002 shares of the technology company’s stock valued at $1,121,000 after purchasing an additional 56 shares in the last quarter. Regatta Capital Group LLC raised its holdings in shares of Check Point Software Technologies by 4.9% during the fourth quarter. Regatta Capital Group LLC now owns 1,229 shares of the technology company’s stock valued at $229,000 after purchasing an additional 57 shares during the period. Finally, Kingsview Wealth Management LLC boosted its position in shares of Check Point Software Technologies by 3.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 1,891 shares of the technology company’s stock worth $353,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds 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.