Morgan Stanley Cuts Check Point Software Technologies (NASDAQ:CHKP) Price Target to $220.00

Check Point Software Technologies (NASDAQ:CHKP) had its price objective decreased by Morgan Stanley from $235.00 to $220.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price points to a potential downside of 0.78% from the company’s current price.

A number of other research analysts have also commented on the stock. StockNews.com raised shares of Check Point Software Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, April 9th. Wells Fargo & Company raised shares of Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $200.00 to $280.00 in a research note on Friday, March 14th. UBS Group upped their price objective 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. Compass Point set a $260.00 price objective on Check Point Software Technologies in a report on Thursday, March 27th. Finally, Arete Research upgraded shares of Check Point Software Technologies to a “hold” rating in a research report on Monday, February 24th. Fifteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.50.

Check Point Software Technologies Stock Performance

Shares of CHKP traded down $2.73 during mid-day trading on Wednesday, hitting $221.74. The company’s stock had a trading volume of 172,246 shares, compared to its average volume of 762,339. Check Point Software Technologies has a one year low of $145.75 and a one year high of $234.36. The stock’s 50-day moving average is $221.73 and its two-hundred day moving average is $201.07. The firm has a market capitalization of $24.39 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62.

Institutional Investors Weigh In On Check Point Software Technologies

Hedge funds have recently added to or reduced their stakes in the business. RMR Wealth Builders bought a new stake in Check Point Software Technologies in the 1st quarter valued at $293,000. NorthCrest Asset Manangement LLC lifted its holdings in shares of Check Point Software Technologies by 0.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 73,335 shares of the technology company’s stock worth $16,715,000 after acquiring an additional 372 shares during the period. Fifth Third Bancorp lifted its position in shares of Check Point Software Technologies by 96.7% during the 1st quarter. Fifth Third Bancorp now owns 1,064 shares of the technology company’s stock worth $243,000 after buying an additional 523 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Check Point Software Technologies by 184.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company’s stock worth $13,149,000 after purchasing an additional 37,407 shares in the last quarter. Finally, Integrated Advisors Network LLC boosted its position in Check Point Software Technologies by 15.2% in the first quarter. Integrated Advisors Network LLC now owns 1,248 shares of the technology company’s stock valued at $284,000 after buying an additional 165 shares in the last quarter. 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.