Check Point Software Technologies (NASDAQ:CHKP) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a neutral rating to a buy rating in a report issued on Thursday morning, Marketbeat.com reports. The brokerage currently has $260.00 price objective on the technology company’s stock, up from their previous price objective of $230.00.

A number of other research firms also recently issued reports on CHKP. UBS Group boosted their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $250.00 target price (up previously from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. Piper Sandler upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $220.00 to $260.00 in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $221.00 to $255.00 in a research note on Wednesday, February 26th. Finally, Arete Research raised Check Point Software Technologies to a “hold” rating in a research note on Monday, February 24th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $232.82.

Check Point Software Technologies Trading Up 1.5 %

Shares of NASDAQ:CHKP opened at $231.31 on Thursday. The business has a 50-day moving average price of $216.77 and a 200 day moving average price of $198.20. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $232.66. The company has a market capitalization of $25.44 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 3.41 and a beta of 0.62.

Hedge Funds Weigh In On Check Point Software Technologies

Large investors have recently bought and sold shares of the business. Bank of Montreal Can boosted its position in shares of Check Point Software Technologies by 32.2% during the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after acquiring an additional 20,866 shares in the last quarter. Truist Financial Corp boosted its holdings in Check Point Software Technologies by 2.6% in the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock valued at $22,311,000 after purchasing an additional 3,080 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its stake in Check Point Software Technologies by 99.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock valued at $928,000 after purchasing an additional 2,478 shares during the last quarter. MML Investors Services LLC raised its holdings in Check Point Software Technologies by 3.7% during the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock worth $19,957,000 after purchasing an additional 3,655 shares in the last quarter. Finally, Hickory Asset Management Inc. acquired a new stake in Check Point Software Technologies during the fourth quarter worth approximately $476,000. 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.