Check Point Software Technologies (NASDAQ:CHKP) Sets New 1-Year High – What’s Next?

Check Point Software Technologies Ltd. (NASDAQ:CHKP) reached a new 52-week high during trading on Monday . The company traded as high as $231.56 and last traded at $231.09, with a volume of 691059 shares trading hands. The stock had previously closed at $224.84.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CHKP shares. BMO Capital Markets raised their price objective on Check Point Software Technologies from $215.00 to $245.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Mizuho boosted their price target on shares of Check Point Software Technologies from $220.00 to $230.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Truist Financial reiterated a “buy” rating and set a $250.00 price objective (up from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. UBS Group boosted their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Citigroup upped their price target on shares of 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. Eighteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $229.86.

Check Point Software Technologies Stock Performance

The company has a market cap of $25.40 billion, a price-to-earnings ratio of 30.94, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. The stock’s fifty day moving average is $210.35 and its two-hundred day moving average is $196.37.

Hedge Funds Weigh In On Check Point Software Technologies

Institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new position in shares of Check Point Software Technologies during the 3rd quarter valued at $774,000. CIBC Asset Management Inc raised its stake in Check Point Software Technologies by 4.1% in the 3rd quarter. CIBC Asset Management Inc now owns 8,374 shares of the technology company’s stock valued at $1,615,000 after acquiring an additional 329 shares during the period. Natixis Advisors LLC lifted its holdings in Check Point Software Technologies by 6.1% during the third quarter. Natixis Advisors LLC now owns 49,726 shares of the technology company’s stock valued at $9,588,000 after purchasing an additional 2,876 shares during the last quarter. Pathstone Holdings LLC boosted its position in Check Point Software Technologies by 138.3% during the third quarter. Pathstone Holdings LLC now owns 19,232 shares of the technology company’s stock worth $3,708,000 after purchasing an additional 11,160 shares during the period. Finally, Caprock Group LLC boosted its position in Check Point Software Technologies by 3.4% during the third quarter. Caprock Group LLC now owns 4,225 shares of the technology company’s stock worth $815,000 after purchasing an additional 138 shares during the period. Hedge funds and other institutional investors 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.