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

Check Point Software Technologies (NASDAQ:CHKP) had its price objective upped by investment analysts at Morgan Stanley from $183.00 to $200.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price suggests a potential downside of 8.27% from the stock’s current price.

Other research analysts have also issued reports about the company. Jefferies Financial Group increased their price objective on Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $187.00 price target on shares of Check Point Software Technologies in a report on Wednesday, October 30th. The Goldman Sachs Group cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $204.00 to $207.00 in a research note on Thursday, January 2nd. Citigroup increased their price objective on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, Evercore ISI boosted their target price on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Nineteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $215.27.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $218.02 on Friday. The firm has a market capitalization of $23.98 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 3.19 and a beta of 0.63. The company’s fifty day moving average price is $188.67 and its 200-day moving average price is $187.76. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $226.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CHKP. Robeco Institutional Asset Management B.V. raised its holdings in shares of Check Point Software Technologies by 10.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock valued at $354,153,000 after acquiring an additional 177,104 shares during the last quarter. FMR LLC increased its position in shares of Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after purchasing an additional 252,581 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Check Point Software Technologies by 73.8% in the 3rd 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 during the last quarter. Boston Trust Walden Corp lifted its holdings in Check Point Software Technologies by 26.9% in the 4th quarter. Boston Trust Walden Corp now owns 487,283 shares of the technology company’s stock valued at $90,976,000 after purchasing an additional 103,388 shares in the last quarter. Finally, Swedbank AB boosted its stake in Check Point Software Technologies by 1.1% during the 4th quarter. Swedbank AB now owns 428,042 shares of the technology company’s stock worth $79,915,000 after purchasing an additional 4,760 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

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.