Check Point Software Technologies (NASDAQ:CHKP) Upgraded by JPMorgan Chase & Co. to Overweight Rating

JPMorgan Chase & Co. upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a neutral rating to an overweight rating in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have $255.00 target price on the technology company’s stock, up from their previous target price of $221.00.

A number of other research firms also recently commented on CHKP. Royal Bank of Canada lifted their target price on Check Point Software Technologies from $187.00 to $215.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Piper Sandler lifted their price target on Check Point Software Technologies from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. BMO Capital Markets lifted their price target on Check Point Software Technologies from $215.00 to $245.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research report on Friday, January 31st. Finally, Stifel Nicolaus lifted their price target on Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Nineteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and a consensus target price of $219.64.

Check Point Software Technologies Stock Up 1.0 %

Check Point Software Technologies stock opened at $220.92 on Wednesday. Check Point Software Technologies has a 52 week low of $145.75 and a 52 week high of $226.02. The company has a market capitalization of $24.30 billion, a price-to-earnings ratio of 29.57, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65. The stock has a 50-day moving average price of $200.15 and a 200 day moving average price of $192.87.

Institutional Trading of Check Point Software Technologies

Several large investors have recently made changes to their positions in CHKP. Private Advisor Group LLC increased its position in shares of Check Point Software Technologies by 6.1% during the third quarter. Private Advisor Group LLC now owns 2,108 shares of the technology company’s stock worth $406,000 after purchasing an additional 121 shares in the last quarter. Arkadios Wealth Advisors purchased a new stake in shares of Check Point Software Technologies during the third quarter worth approximately $346,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Check Point Software Technologies by 115.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,992 shares of the technology company’s stock worth $963,000 after purchasing an additional 2,674 shares in the last quarter. abrdn plc increased its position in shares of Check Point Software Technologies by 40.5% during the third quarter. abrdn plc now owns 18,460 shares of the technology company’s stock worth $3,559,000 after purchasing an additional 5,321 shares in the last quarter. Finally, Boston Financial Mangement LLC purchased a new stake in shares of Check Point Software Technologies during the third quarter worth approximately $231,000. 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.