Check Point Software Technologies (NASDAQ:CHKP) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Check Point Software Technologies (NASDAQ:CHKP) from a buy rating to a hold rating in a research note published on Saturday.

Several other analysts have also recently issued reports on the stock. Wells Fargo & Company raised shares of Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $200.00 to $280.00 in a research report on Friday, March 14th. UBS Group increased their target price 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. Guggenheim restated a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Barclays increased their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 target price on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Sixteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $234.18.

Check Point Software Technologies Stock Down 1.3 %

CHKP stock opened at $228.37 on Friday. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $234.36. The stock has a market cap 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 fifty day moving average of $217.58 and a two-hundred day moving average of $198.54.

Hedge Funds Weigh In On Check Point Software Technologies

Several hedge funds have recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in Check Point Software Technologies by 32.2% in the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after acquiring an additional 20,866 shares during the period. Truist Financial Corp increased its stake in shares of Check Point Software Technologies by 2.6% in the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock worth $22,311,000 after purchasing an additional 3,080 shares during the period. Vestmark Advisory Solutions Inc. lifted its position in shares of Check Point Software Technologies by 99.3% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock worth $928,000 after purchasing an additional 2,478 shares during the last quarter. MML Investors Services LLC boosted its stake in Check Point Software Technologies by 3.7% during the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after purchasing an additional 3,655 shares during the period. Finally, Hickory Asset Management Inc. acquired a new stake in Check Point Software Technologies in the 4th quarter valued at approximately $476,000. 98.51% of the stock is owned by institutional investors and hedge funds.

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.