Check Point Software Technologies (NASDAQ:CHKP) Upgraded at Stephens

Stephens upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

CHKP has been the topic of several other reports. The Goldman Sachs Group downgraded shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and upped their price objective for the company from $204.00 to $207.00 in a report on Thursday, January 2nd. Arete Research upgraded shares of Check Point Software Technologies to a “hold” rating in a research report on Monday, February 24th. Mizuho upped their target price on Check Point Software Technologies from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Bank of America upgraded shares of Check Point Software Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $230.00 to $260.00 in a research report on Thursday, March 27th. Finally, Truist Financial reiterated a “buy” rating and set a $250.00 price target (up from $220.00) on shares of Check Point Software Technologies in a report on Friday, January 31st. Sixteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.09.

Check Point Software Technologies Stock Down 1.2 %

CHKP opened at $228.01 on Monday. The company’s 50-day moving average price is $219.81 and its two-hundred day moving average price is $199.31. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $234.36. The stock has a market cap of $25.08 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 3.41 and a beta of 0.62.

Hedge Funds Weigh In On Check Point Software Technologies

A number of hedge funds have recently bought and sold shares of CHKP. Norges Bank purchased a new stake in shares of Check Point Software Technologies during the 4th quarter valued at about $428,820,000. Clearbridge Investments LLC purchased a new stake in Check Point Software Technologies during the fourth quarter valued at $100,456,000. Causeway Capital Management LLC lifted its stake in shares of Check Point Software Technologies by 33.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock worth $360,257,000 after purchasing an additional 487,823 shares during the period. Altshuler Shaham Ltd purchased a new position in shares of Check Point Software Technologies during the 4th quarter worth $73,186,000. Finally, First Trust Advisors LP grew its holdings in Check Point Software Technologies by 17.4% during the fourth quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock valued at $340,314,000 after purchasing an additional 269,925 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.