Check Point Software Technologies (NASDAQ:CHKP) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Check Point Software Technologies (NASDAQ:CHKP) from a buy rating to a hold rating in a research note released on Tuesday morning.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group boosted their price objective on Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup boosted their price objective on 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. Morgan Stanley boosted their price objective on 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. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 price objective on shares of Check Point Software Technologies in a research report on Monday, January 27th. Finally, Stifel Nicolaus boosted their price objective on 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. Eighteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $221.91.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $216.69 on Tuesday. Check Point Software Technologies has a fifty-two week low of $145.75 and a fifty-two week high of $226.02. The business has a 50-day moving average of $200.74 and a two-hundred day moving average of $193.03. The stock has a market capitalization of $23.83 billion, a P/E ratio of 29.01, a P/E/G ratio of 3.41 and a beta of 0.65.

Institutional Investors Weigh In On Check Point Software Technologies

Several large investors have recently modified their holdings of the stock. Brucke Financial Inc. bought a new stake in Check Point Software Technologies during the 4th quarter worth approximately $214,000. Bernard Wealth Management Corp. bought a new stake in Check Point Software Technologies during the 4th quarter worth approximately $76,000. Capital A Wealth Management LLC bought a new stake in Check Point Software Technologies during the 4th quarter worth approximately $29,000. Mackenzie Financial Corp grew its position in Check Point Software Technologies by 2.5% during the 4th quarter. Mackenzie Financial Corp now owns 20,730 shares of the technology company’s stock worth $3,870,000 after acquiring an additional 506 shares during the last quarter. Finally, WCG Wealth Advisors LLC grew its position in Check Point Software Technologies by 6.4% during the 4th quarter. WCG Wealth Advisors LLC now owns 13,472 shares of the technology company’s stock worth $2,515,000 after acquiring an additional 814 shares during the last quarter. 98.51% of the stock is currently 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.