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

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They presently have a $215.00 price objective on the technology company’s stock. Royal Bank of Canada’s price target suggests a potential downside of 2.39% from the company’s current price.

Several other analysts have also issued reports on CHKP. Jefferies Financial Group boosted their price objective on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the company a “buy” rating in a report on Thursday. 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. Evercore ISI increased their price objective on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Guggenheim reissued a “neutral” rating on shares of Check Point Software Technologies in a research report on Friday, January 31st. Finally, Scotiabank upped their price target on Check Point Software Technologies from $215.00 to $250.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 31st. Eighteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $221.91.

Check Point Software Technologies Stock Up 1.6 %

CHKP stock opened at $220.26 on Thursday. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $226.02. The stock has a market cap of $24.22 billion, a price-to-earnings ratio of 29.49, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65. The business has a fifty day moving average of $201.38 and a two-hundred day moving average of $193.31.

Institutional Investors Weigh In On Check Point Software Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can grew its stake in shares of Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after purchasing an additional 20,866 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in Check Point Software Technologies during the 3rd quarter worth about $1,599,000. Truist Financial Corp lifted its holdings in Check Point Software Technologies by 2.6% during the 4th quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock worth $22,311,000 after buying an additional 3,080 shares during the last quarter. MML Investors Services LLC boosted its position in shares of Check Point Software Technologies by 3.7% during the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock worth $19,957,000 after acquiring an additional 3,655 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Check Point Software Technologies by 14.5% in the 4th quarter. CIBC Asset Management Inc now owns 9,589 shares of the technology company’s stock valued at $1,790,000 after acquiring an additional 1,215 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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.