Check Point Software Technologies (NASDAQ:CHKP) Hits New 12-Month High – What’s Next?

Check Point Software Technologies Ltd. (NASDAQ:CHKP) shares hit a new 52-week high on Wednesday . The stock traded as high as $232.66 and last traded at $229.69, with a volume of 18455 shares. The stock had previously closed at $230.58.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CHKP. Piper Sandler raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $220.00 to $260.00 in a research report on Monday, March 3rd. Susquehanna raised their price target on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the company a “positive” rating in a report on Friday, January 31st. Stifel Nicolaus boosted their price objective on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. The Goldman Sachs Group lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and lifted their target price for the company from $204.00 to $207.00 in a report on Thursday, January 2nd. Finally, Jefferies Financial Group increased their price target on Check Point Software Technologies from $250.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Seventeen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $229.86.

Check Point Software Technologies Stock Down 0.6 %

The company has a 50 day moving average price of $214.99 and a 200-day moving average price of $197.76. The company has a market cap of $25.21 billion, a P/E ratio of 30.74, a PEG ratio of 3.41 and a beta of 0.62.

Hedge Funds Weigh In On Check Point Software Technologies

Several large investors have recently bought and sold shares of the stock. Cerity Partners LLC raised its stake in shares of Check Point Software Technologies by 34.2% in the 3rd quarter. Cerity Partners LLC now owns 5,304 shares of the technology company’s stock worth $1,023,000 after buying an additional 1,353 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Check Point Software Technologies by 9.0% in the 3rd quarter. Kingsview Wealth Management LLC now owns 1,834 shares of the technology company’s stock worth $354,000 after purchasing an additional 152 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Check Point Software Technologies by 21.5% during the third quarter. Larson Financial Group LLC now owns 1,087 shares of the technology company’s stock worth $210,000 after buying an additional 192 shares in the last quarter. Centaurus Financial Inc. grew its position in Check Point Software Technologies by 36.4% in the third quarter. Centaurus Financial Inc. now owns 2,543 shares of the technology company’s stock worth $490,000 after buying an additional 678 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Check Point Software Technologies by 4.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,855 shares of the technology company’s stock worth $1,707,000 after acquiring an additional 367 shares in 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.