Check Point Software Technologies (NASDAQ:CHKP) Upgraded to “Buy” at Bank of America

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a report released on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $260.00 price objective on the technology company’s stock, up from their previous price objective of $230.00. Bank of America‘s target price would indicate a potential upside of 14.10% from the company’s current price.

Other research analysts also recently issued reports about the company. Piper Sandler upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $220.00 to $260.00 in a report on Monday, March 3rd. Jefferies Financial Group upped their target price on Check Point Software Technologies from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Robert W. Baird raised Check Point Software Technologies from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $235.00 to $255.00 in a research note on Thursday, February 27th. Guggenheim reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Finally, Truist Financial reissued a “buy” rating and issued a $250.00 target price (up from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. Sixteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $232.82.

Check Point Software Technologies Stock Down 1.2 %

Shares of NASDAQ:CHKP opened at $227.87 on Thursday. The company has a market capitalization of $25.06 billion, a P/E ratio of 30.50, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $232.66. The stock’s fifty day simple moving average is $215.88 and its 200-day simple moving average is $197.97.

Institutional Investors Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Check Point Software Technologies in the 4th quarter valued at $428,820,000. Clearbridge Investments LLC bought a new position in shares of Check Point Software Technologies in the fourth quarter valued at $100,456,000. Causeway Capital Management LLC grew its holdings in shares of Check Point Software Technologies by 33.8% during the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock valued at $360,257,000 after buying an additional 487,823 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Check Point Software Technologies by 73.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock valued at $211,105,000 after acquiring an additional 464,821 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new position in Check Point Software Technologies during the 4th quarter valued at about $73,186,000. 98.51% of the stock is owned by institutional investors.

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.