Check Point Software Technologies (NASDAQ:CHKP) Given “Sector Perform” Rating at Royal Bank of Canada

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “sector perform” rating reiterated by analysts at Royal Bank of Canada in a report issued on Wednesday, Benzinga reports. They presently have a $187.00 price objective on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 6.48% from the company’s previous close.

CHKP has been the topic of several other reports. Truist Financial raised their price target on Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Bank of America downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $205.00 to $195.00 in a research report on Wednesday. Mizuho increased their price objective on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Susquehanna boosted their price target on Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a research note on Thursday, July 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Wednesday. Sixteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $197.74.

Check Point Software Technologies Trading Down 1.3 %

CHKP stock traded down $2.25 during midday trading on Wednesday, reaching $175.62. The company had a trading volume of 470,101 shares, compared to its average volume of 688,732. The company has a market capitalization of $19.32 billion, a P/E ratio of 24.26, a PEG ratio of 3.17 and a beta of 0.62. Check Point Software Technologies has a 1 year low of $129.13 and a 1 year high of $210.70. The company has a 50 day moving average of $195.52 and a two-hundred day moving average of $174.67.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CHKP. Allspring Global Investments Holdings LLC boosted its holdings in shares of Check Point Software Technologies by 8.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 97,434 shares of the technology company’s stock valued at $15,980,000 after buying an additional 7,357 shares during the last quarter. Norden Group LLC acquired a new stake in shares of Check Point Software Technologies during the first quarter worth $200,000. Van ECK Associates Corp boosted its stake in shares of Check Point Software Technologies by 8.9% in the first quarter. Van ECK Associates Corp now owns 49,708 shares of the technology company’s stock valued at $8,152,000 after buying an additional 4,056 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Check Point Software Technologies by 31.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 342,750 shares of the technology company’s stock worth $56,214,000 after acquiring an additional 82,045 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Check Point Software Technologies by 11.5% in the 1st quarter. BNP Paribas Financial Markets now owns 96,302 shares of the technology company’s stock valued at $15,794,000 after acquiring an additional 9,971 shares in the last quarter. 87.62% of the stock is currently owned by 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.