Morgan Stanley Begins Coverage on Check Point Software Technologies (NASDAQ:CHKP)

Morgan Stanley began coverage on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research report released on Tuesday, MarketBeat reports. The brokerage issued an equal weight rating and a $235.00 target price on the technology company’s stock.

Other equities analysts also recently issued reports about the company. Scotiabank raised their price objective on Check Point Software Technologies from $215.00 to $250.00 and gave the company a “sector outperform” rating in a research note on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Robert W. Baird raised Check Point Software Technologies from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $235.00 to $255.00 in a research note on Thursday, February 27th. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 price target on shares of Check Point Software Technologies in a research report on Monday, January 27th. Finally, UBS Group raised their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Eighteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $229.86.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $229.14 on Tuesday. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $232.37. The company has a market capitalization of $25.20 billion, a P/E ratio of 30.67, a PEG ratio of 3.41 and a beta of 0.62. The business has a 50 day moving average price of $212.21 and a 200 day moving average price of $196.84.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its holdings in Check Point Software Technologies by 0.4% in the fourth quarter. California State Teachers Retirement System now owns 121,530 shares of the technology company’s stock valued at $22,690,000 after acquiring an additional 470 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Check Point Software Technologies by 2.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,136 shares of the technology company’s stock valued at $959,000 after acquiring an additional 144 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in Check Point Software Technologies in the fourth quarter valued at about $3,756,000. Centaurus Financial Inc. raised its position in Check Point Software Technologies by 48.5% in the fourth quarter. Centaurus Financial Inc. now owns 3,777 shares of the technology company’s stock valued at $705,000 after purchasing an additional 1,234 shares during the period. Finally, Capstone Triton Financial Group LLC raised its position in Check Point Software Technologies by 1.3% in the fourth quarter. Capstone Triton Financial Group LLC now owns 10,863 shares of the technology company’s stock valued at $2,028,000 after purchasing an additional 138 shares during the period. 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.