Check Point Software Technologies (NASDAQ:CHKP) Upgraded at StockNews.com

StockNews.com upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a hold rating to a buy rating in a research report released on Friday morning.

Other equities analysts have also recently issued reports about the company. Arete Research raised Check Point Software Technologies to a “hold” rating in a report on Monday, February 24th. Citigroup lifted their price objective on Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Stifel Nicolaus boosted their price target on Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Morgan Stanley assumed coverage on Check Point Software Technologies in a research report on Tuesday, March 18th. They set an “equal weight” rating and a $235.00 price target for the company. Finally, Wells Fargo & Company upgraded Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $200.00 to $280.00 in a research note on Friday, March 14th. Seventeen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $229.86.

Check Point Software Technologies Stock Down 0.5 %

NASDAQ:CHKP opened at $227.97 on Friday. The stock’s 50 day moving average price is $213.13 and its 200 day moving average price is $197.18. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $232.37. The company has a market capitalization of $25.07 billion, a PE ratio of 30.52, a P/E/G ratio of 3.41 and a beta of 0.62.

Hedge Funds Weigh In On Check Point Software Technologies

A number of hedge funds have recently bought and sold shares of CHKP. Norges Bank bought a new stake in Check Point Software Technologies in the fourth quarter valued at $428,820,000. Clearbridge Investments LLC purchased a new position in Check Point Software Technologies during the fourth quarter worth about $100,456,000. Causeway Capital Management LLC boosted its stake in Check Point Software Technologies by 33.8% in 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 acquiring an additional 487,823 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Check Point Software Technologies by 73.8% in the third 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 during the last quarter. Finally, Altshuler Shaham Ltd purchased a new position in Check Point Software Technologies in the fourth quarter valued at about $73,186,000. Institutional investors own 98.51% of the company’s stock.

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.