Check Point Software Technologies (NASDAQ:CHKP) Upgraded at Wells Fargo & Company

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued on Friday, Marketbeat reports. The brokerage currently has a $280.00 target price on the technology company’s stock, up from their previous target price of $200.00. Wells Fargo & Company‘s price objective suggests a potential upside of 24.53% from the stock’s previous close.

CHKP has been the subject of several other reports. Scotiabank upped their price objective on Check Point Software Technologies from $215.00 to $250.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 31st. Robert W. Baird upgraded Check Point Software Technologies from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $235.00 to $255.00 in a research report on Thursday, February 27th. Citigroup boosted their price objective 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. Royal Bank of Canada restated 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. Finally, 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 research report on Friday, January 31st. Eighteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and an average price target of $227.26.

Check Point Software Technologies Trading Up 4.6 %

Shares of NASDAQ CHKP opened at $224.84 on Friday. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $230.65. The firm has a market capitalization of $24.73 billion, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. The firm has a 50 day moving average of $208.38 and a 200 day moving average of $195.79.

Institutional Trading of Check Point Software Technologies

Several hedge funds have recently made changes to their positions in the business. Lansforsakringar Fondforvaltning AB publ bought a new stake in Check Point Software Technologies during the fourth quarter worth approximately $3,756,000. Centaurus Financial Inc. raised its holdings in Check Point Software Technologies by 48.5% during the 4th quarter. Centaurus Financial Inc. now owns 3,777 shares of the technology company’s stock valued at $705,000 after buying an additional 1,234 shares during the period. Capstone Triton Financial Group LLC lifted its position in Check Point Software Technologies by 1.3% in the fourth quarter. Capstone Triton Financial Group LLC now owns 10,863 shares of the technology company’s stock worth $2,028,000 after buying an additional 138 shares during the last quarter. Siemens Fonds Invest GmbH bought a new position in Check Point Software Technologies during the fourth quarter valued at $1,373,000. Finally, Menard Financial Group LLC bought a new position in Check Point Software Technologies during the fourth quarter valued at $41,000. 98.51% of the stock is currently owned by hedge funds and other 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.