Check Point Software Technologies (NASDAQ:CHKP) Upgraded to “Buy” at StockNews.com

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

CHKP has been the subject of several other research reports. UBS Group lifted their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Mizuho lifted their price objective on Check Point Software Technologies from $220.00 to $230.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Thursday, February 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price objective on shares of Check Point Software Technologies in a report on Thursday, February 27th. Finally, Guggenheim reissued a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 31st. Seventeen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and a consensus price target of $229.86.

Check Point Software Technologies Stock Down 0.5 %

CHKP traded down $1.17 during trading hours on Friday, hitting $227.97. The stock had a trading volume of 1,071,844 shares, compared to its average volume of 710,289. The company’s fifty day simple moving average is $213.13 and its 200 day simple moving average is $197.08. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $241.98. The stock has a market cap of $25.07 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62.

Institutional Trading of Check Point Software Technologies

A number of hedge funds have recently bought and sold shares of the company. Gitterman Wealth Management LLC increased its stake in shares of Check Point Software Technologies by 3.2% during the fourth quarter. Gitterman Wealth Management LLC now owns 1,533 shares of the technology company’s stock valued at $286,000 after buying an additional 48 shares during the period. TD Waterhouse Canada Inc. increased its stake in shares of Check Point Software Technologies by 1.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,095 shares of the technology company’s stock valued at $578,000 after buying an additional 52 shares during the period. Argonautica Private Wealth Management Inc. increased its stake in shares of Check Point Software Technologies by 0.9% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,002 shares of the technology company’s stock valued at $1,121,000 after buying an additional 56 shares during the period. Regatta Capital Group LLC increased its stake in shares of Check Point Software Technologies by 4.9% during the fourth quarter. Regatta Capital Group LLC now owns 1,229 shares of the technology company’s stock valued at $229,000 after buying an additional 57 shares during the period. Finally, Kingsview Wealth Management LLC increased its stake in shares of Check Point Software Technologies by 3.1% during the fourth quarter. Kingsview Wealth Management LLC now owns 1,891 shares of the technology company’s stock valued at $353,000 after buying an additional 57 shares during the period. 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.