Check Point Software Technologies (NASDAQ:CHKP) Raised to “Overweight” at Wells Fargo & Company

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued on Friday,Briefing.com Automated Import reports. The firm presently has a $280.00 price target on the technology company’s stock, up from their prior price target of $200.00. Wells Fargo & Company‘s price target points to a potential upside of 30.29% from the stock’s current price.

A number of other analysts have also commented on CHKP. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 price objective on shares of Check Point Software Technologies in a research note on Monday, January 27th. Stifel Nicolaus increased their price target on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Citigroup increased their price target on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Robert W. Baird raised shares of Check Point Software Technologies from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $235.00 to $255.00 in a research report on Thursday, February 27th. Finally, Morgan Stanley increased their price target on shares of Check Point Software Technologies from $183.00 to $200.00 and gave the stock an “equal weight” 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $227.26.

Check Point Software Technologies Trading Down 1.4 %

NASDAQ:CHKP opened at $214.90 on Friday. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $230.65. The firm has a market cap of $23.64 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. The company has a 50-day moving average of $207.51 and a 200-day moving average of $195.49.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nemes Rush Group LLC bought a new position in shares of Check Point Software Technologies during the fourth quarter valued at $25,000. FSA Wealth Management LLC bought a new position in shares of Check Point Software Technologies during the third quarter valued at $27,000. Capital A Wealth Management LLC bought a new position in shares of Check Point Software Technologies during the fourth quarter valued at $29,000. GAMMA Investing LLC lifted its holdings in shares of Check Point Software Technologies by 53.1% during 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. Finally, Golden State Wealth Management LLC bought a new position in shares of Check Point Software Technologies during the fourth quarter valued at $35,000. 98.51% of the stock is 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.