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

Stephens upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Bank of America raised Check Point Software Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $230.00 to $260.00 in a report on Thursday, March 27th. Arete Research raised shares of Check Point Software Technologies to a “hold” rating in a research report on Monday, February 24th. Stifel Nicolaus increased their price target on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a report on Friday, January 31st. BMO Capital Markets upgraded shares of 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 report on Friday, March 28th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Sixteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $235.09.

Check Point Software Technologies Price Performance

CHKP stock opened at $230.84 on Monday. The stock has a market capitalization of $25.39 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. The company has a 50-day moving average of $219.14 and a two-hundred day moving average of $199.11. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $234.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp raised its stake in shares of Check Point Software Technologies by 2.6% in the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock worth $22,311,000 after acquiring an additional 3,080 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its holdings in Check Point Software Technologies by 99.3% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock worth $928,000 after buying an additional 2,478 shares in the last quarter. MML Investors Services LLC boosted its position in Check Point Software Technologies by 3.7% in the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after buying an additional 3,655 shares during the last quarter. Hickory Asset Management Inc. acquired a new stake in shares of Check Point Software Technologies in the 4th quarter valued at $476,000. Finally, Assetmark Inc. raised its position in shares of Check Point Software Technologies by 44.1% during the fourth quarter. Assetmark Inc. now owns 140,943 shares of the technology company’s stock worth $26,314,000 after acquiring an additional 43,165 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

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.