Check Point Software Technologies Ltd. (NASDAQ:CHKP) Receives $221.91 Average Price Target from Brokerages

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has been given a consensus recommendation of “Hold” by the twenty-seven ratings firms that are covering the stock, MarketBeat Ratings reports. Seventeen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $224.86.

CHKP has been the subject of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 target price on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Guggenheim reissued a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 31st. Barclays raised their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Arete Research raised shares of Check Point Software Technologies to a “hold” rating in a research note on Monday, February 24th. Finally, Baird R W upgraded shares of Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 27th.

Check Point Software Technologies Price Performance

CHKP opened at $223.48 on Friday. The firm has a market capitalization of $24.58 billion, a P/E ratio of 29.92, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a one year low of $145.75 and a one year high of $226.02. The company has a fifty day moving average price of $203.96 and a 200-day moving average price of $194.35.

Institutional Investors Weigh In On Check Point Software Technologies

A number of large investors have recently added to or reduced their stakes in CHKP. Bank of Montreal Can boosted its holdings in shares of Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after purchasing an additional 20,866 shares during the period. CWA Asset Management Group LLC purchased a new stake in Check Point Software Technologies in the 3rd quarter worth approximately $1,599,000. Truist Financial Corp lifted its holdings in Check Point Software Technologies by 2.6% in the 4th quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock worth $22,311,000 after buying an additional 3,080 shares during the period. MML Investors Services LLC grew its position in shares of 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 worth $19,957,000 after buying an additional 3,655 shares during the last quarter. Finally, Hickory Asset Management Inc. purchased a new position in shares of Check Point Software Technologies during the fourth quarter valued at approximately $476,000. Institutional investors 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.