Check Point Software Technologies (NASDAQ:CHKP) Hits New 1-Year High – Should You Buy?

Check Point Software Technologies Ltd. (NASDAQ:CHKP)’s stock price reached a new 52-week high on Monday . The stock traded as high as $231.56 and last traded at $231.09, with a volume of 691059 shares trading hands. The stock had previously closed at $224.84.

Analyst Upgrades and Downgrades

CHKP has been the subject of several research reports. Robert W. Baird upgraded Check Point Software Technologies from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $235.00 to $255.00 in a research report on Thursday, February 27th. Citigroup upped their target price on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Morgan Stanley raised 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 note on Friday, January 31st. UBS Group upped their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Piper Sandler raised shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $220.00 to $260.00 in a research report on Monday, March 3rd. Eighteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $227.26.

Check Point Software Technologies Stock Up 2.5 %

The stock has a market capitalization of $25.34 billion, a PE ratio of 30.84, a PEG ratio of 3.41 and a beta of 0.62. The firm’s fifty day moving average is $208.38 and its 200-day moving average is $195.84.

Institutional Trading of Check Point Software Technologies

Several large investors have recently modified their holdings of CHKP. Apollon Wealth Management LLC acquired a new position in Check Point Software Technologies in the third quarter valued at $334,000. Sumitomo Mitsui Trust Group Inc. increased its position in Check Point Software Technologies by 0.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 196,273 shares of the technology company’s stock worth $37,843,000 after purchasing an additional 531 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Check Point Software Technologies during the third quarter worth approximately $774,000. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Check Point Software Technologies by 17.5% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,791 shares of the technology company’s stock valued at $538,000 after purchasing an additional 415 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Check Point Software Technologies by 4.1% during the 3rd quarter. CIBC Asset Management Inc now owns 8,374 shares of the technology company’s stock valued at $1,615,000 after buying an additional 329 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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.