Check Point Software Technologies (NASDAQ:CHKP) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Check Point Software Technologies (NASDAQ:CHKP) from a buy rating to a hold rating in a report published on Thursday morning.

A number of other equities research analysts have also commented on CHKP. UBS Group raised their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Scotiabank lifted their price target on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the company a “sector outperform” rating in a research note on Friday, January 31st. Susquehanna boosted their price objective on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” 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 boosted their price objective for the stock from $204.00 to $207.00 in a research note on Thursday, January 2nd. Finally, Truist Financial restated a “buy” rating and set a $250.00 price objective (up from $220.00) on shares of Check Point Software Technologies in a research note on Friday, January 31st. Eighteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Hold” and an average target price of $227.26.

Check Point Software Technologies Stock Up 4.6 %

Shares of NASDAQ CHKP opened at $224.84 on Thursday. The company’s fifty day moving average is $208.38 and its 200-day moving average is $195.79. The stock has a market cap of $24.73 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $230.65.

Hedge Funds Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in CHKP. Nemes Rush Group LLC acquired a new position in Check Point Software Technologies during the 4th quarter worth approximately $25,000. FSA Wealth Management LLC acquired a new position in Check Point Software Technologies during the 3rd quarter worth approximately $27,000. Capital A Wealth Management LLC acquired a new position in Check Point Software Technologies during the 4th quarter worth approximately $29,000. GAMMA Investing LLC increased its position in Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after purchasing an additional 60 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in Check Point Software Technologies during the 4th quarter worth approximately $35,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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.