Check Point Software Technologies (NASDAQ:CHKP) Stock Rating Upgraded by BMO Capital Markets

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report issued on Friday,Benzinga reports. The firm presently has a $275.00 target price on the technology company’s stock, up from their prior target price of $245.00. BMO Capital Markets’ price objective would indicate a potential upside of 18.89% from the stock’s previous close.

CHKP has been the topic of a number of other reports. Bank of America upgraded Check Point Software Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $230.00 to $260.00 in a report on Thursday. Truist Financial restated a “buy” rating and issued a $250.00 target price (up previously from $220.00) on shares of Check Point Software Technologies in a research note on Friday, January 31st. Baird R W raised shares of Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Citigroup boosted their price objective on shares of 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, JPMorgan Chase & Co. raised shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $221.00 to $255.00 in a research report on Wednesday, February 26th. Fifteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Check Point Software Technologies has a consensus rating of “Moderate Buy” and an average target price of $234.18.

Check Point Software Technologies Stock Up 1.5 %

Shares of CHKP stock opened at $231.31 on Friday. The company has a market capitalization of $25.44 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $233.43. The firm has a fifty day moving average of $216.77 and a 200-day moving average of $198.20.

Institutional Trading of Check Point Software Technologies

Several hedge funds have recently added to or reduced their stakes in the company. Nemes Rush Group LLC bought a new position in Check Point Software Technologies during the 4th quarter worth $25,000. FSA Wealth Management LLC bought a new position in Check Point Software Technologies during the third quarter worth about $27,000. Capital A Wealth Management LLC acquired a new stake in Check Point Software Technologies in the 4th quarter worth about $29,000. GAMMA Investing LLC boosted its holdings in Check Point Software Technologies by 53.1% in the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after purchasing an additional 60 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in Check Point Software Technologies in the 4th quarter valued at about $35,000. 98.51% of the stock is 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.