Check Point Software Technologies (NASDAQ:CHKP) Upgraded by Stephens to “Strong-Buy” Rating

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by Stephens to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

CHKP has been the subject of a number of other reports. BMO Capital Markets raised Check Point Software Technologies from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $245.00 to $275.00 in a research report on Friday, March 28th. Arete Research raised shares of Check Point Software Technologies to a “hold” rating in a research report on Monday, February 24th. Morgan Stanley started coverage on shares of Check Point Software Technologies in a research report on Tuesday, March 18th. They set an “equal weight” rating and a $235.00 price objective for the company. Robert W. Baird raised Check Point Software Technologies from a “neutral” rating to an “outperform” rating and increased their target price for the company from $235.00 to $255.00 in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and raised their price target for the company from $221.00 to $255.00 in a research note on Wednesday, February 26th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $235.09.

Check Point Software Technologies Price Performance

CHKP opened at $230.84 on Monday. The business has a fifty day moving average price of $219.14 and a 200 day moving average price of $199.11. Check Point Software Technologies has a 12 month low of $145.75 and a 12 month high of $234.36. The stock has a market capitalization of $25.39 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 3.41 and a beta of 0.62.

Hedge Funds Weigh In On Check Point Software Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Gitterman Wealth Management LLC lifted its position in 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 acquiring an additional 48 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of Check Point Software Technologies by 1.7% during 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. MassMutual Private Wealth & Trust FSB grew its position in Check Point Software Technologies by 19.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 336 shares of the technology company’s stock valued at $77,000 after buying an additional 55 shares during the last quarter. Argonautica Private Wealth Management Inc. increased its stake in Check Point Software Technologies by 0.9% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,002 shares of the technology company’s stock valued at $1,121,000 after buying an additional 56 shares during the period. Finally, Regatta Capital Group LLC raised its position in Check Point Software Technologies by 4.9% during the 4th quarter. Regatta Capital Group LLC now owns 1,229 shares of the technology company’s stock worth $229,000 after buying an additional 57 shares during 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.