BMO Capital Markets Upgrades Check Point Software Technologies (NASDAQ:CHKP) to Outperform

BMO Capital Markets upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a market perform rating to an outperform rating in a research report sent to investors on Friday, MarketBeat Ratings reports. They currently have $275.00 price target on the technology company’s stock, up from their previous price target of $245.00.

CHKP has been the topic of a number of other research reports. The Goldman Sachs Group cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and increased their target price for the company from $204.00 to $207.00 in a report on Thursday, January 2nd. StockNews.com raised Check Point Software Technologies from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 target price on shares of Check Point Software Technologies in a research note on Monday, January 27th. Truist Financial restated a “buy” rating and issued a $250.00 target price (up from $220.00) on shares of Check Point Software Technologies in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $221.00 to $255.00 in a report on Wednesday, February 26th. Sixteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $234.18.

Check Point Software Technologies Price Performance

CHKP stock opened at $228.37 on Friday. The company’s 50 day simple moving average is $217.58 and its 200-day simple moving average is $198.60. 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 PE ratio of 30.57, a P/E/G ratio of 3.41 and a beta of 0.62.

Institutional Investors Weigh In On Check Point Software Technologies

Several hedge funds have recently modified their holdings of CHKP. Nemes Rush Group LLC purchased a new position in Check Point Software Technologies in the 4th quarter worth approximately $25,000. FSA Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the third quarter worth $27,000. Capital A Wealth Management LLC purchased a new position in shares of Check Point Software Technologies in the fourth quarter valued at $29,000. GAMMA Investing LLC grew its holdings in Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after purchasing an additional 60 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in Check Point Software Technologies during the 4th quarter worth $35,000. 98.51% of the stock is currently owned by hedge funds and other 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.