Mizuho Forecasts Strong Price Appreciation for Check Point Software Technologies (NASDAQ:CHKP) Stock

Check Point Software Technologies (NASDAQ:CHKP) had its price target boosted by stock analysts at Mizuho from $220.00 to $230.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Mizuho’s price target would indicate a potential upside of 3.28% from the stock’s previous close.

A number of other research firms have also issued reports on CHKP. Citigroup boosted their price objective on Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. raised shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $221.00 to $255.00 in a research note on Wednesday. UBS Group boosted their target price on shares of 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. Barclays boosted their price target on 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. Finally, Piper Sandler boosted their target price on shares of Check Point Software Technologies from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Nineteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies currently has an average rating of “Hold” and an average target price of $219.64.

Check Point Software Technologies Stock Up 1.9 %

Shares of NASDAQ CHKP traded up $4.06 during midday trading on Wednesday, hitting $222.69. The stock had a trading volume of 225,405 shares, compared to its average volume of 889,753. The company has a market capitalization of $24.49 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 3.41 and a beta of 0.65. The company has a fifty day moving average price of $199.35 and a 200 day moving average price of $192.67. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $226.02.

Institutional Investors Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Check Point Software Technologies during the fourth quarter worth about $428,820,000. Clearbridge Investments LLC acquired a new stake in Check Point Software Technologies in the fourth quarter valued at $100,456,000. Causeway Capital Management LLC lifted its stake in Check Point Software Technologies by 33.8% during the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock worth $360,257,000 after purchasing an additional 487,823 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Check Point Software Technologies by 73.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock valued at $211,105,000 after purchasing an additional 464,821 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new position in Check Point Software Technologies in the fourth quarter valued at approximately $73,186,000. 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.