Check Point Software Technologies (NASDAQ:CHKP) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a neutral rating to an outperform rating in a research report report published on Thursday, MarketBeat reports. The firm currently has $255.00 target price on the technology company’s stock, up from their previous target price of $235.00.

A number of other brokerages also recently commented on CHKP. Jefferies Financial Group raised their price objective on Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. UBS Group raised their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Guggenheim reiterated a “neutral” rating on shares of Check Point Software Technologies in a research report on Friday, January 31st. Citigroup raised their price objective on Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Finally, Susquehanna increased their target price on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a report on Friday, January 31st. Nineteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Check Point Software Technologies currently has an average rating of “Hold” and a consensus target price of $221.91.

Check Point Software Technologies Stock Up 1.6 %

Shares of NASDAQ:CHKP opened at $220.26 on Thursday. The business has a 50 day moving average price of $201.38 and a 200 day moving average price of $193.38. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $226.02. The company has a market cap of $24.22 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 3.41 and a beta of 0.65.

Institutional Investors Weigh In On Check Point Software Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of Check Point Software Technologies by 32.2% in the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock valued at $16,532,000 after buying an additional 20,866 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at $1,599,000. Truist Financial Corp increased its stake in shares of Check Point Software Technologies by 2.6% in the 4th quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock valued at $22,311,000 after buying an additional 3,080 shares during the period. MML Investors Services LLC increased its stake in shares of Check Point Software Technologies by 3.7% in the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after buying an additional 3,655 shares during the period. Finally, CIBC Asset Management Inc increased its stake 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 buying an additional 1,215 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

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.