Check Point Software Technologies (NASDAQ:CHKP) Stock Rating Upgraded by Piper Sandler

Piper Sandler upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a neutral rating to an overweight rating in a research report sent to investors on Monday morning, Marketbeat.com reports. Piper Sandler currently has $260.00 target price on the technology company’s stock, up from their previous target price of $220.00.

Several other research analysts also recently commented on CHKP. Guggenheim reiterated a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 31st. Jefferies Financial Group lifted their target price on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. BMO Capital Markets boosted their price objective on shares of Check Point Software Technologies from $215.00 to $245.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. UBS Group boosted their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Barclays boosted their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Seventeen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $224.86.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $221.60 on Monday. The company has a market capitalization of $24.37 billion, a PE ratio of 29.67, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a one year low of $145.75 and a one year high of $226.02. The company’s fifty day moving average price is $203.30 and its 200 day moving average price is $194.14.

Hedge Funds Weigh In On Check Point Software Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHKP. Nemes Rush Group LLC acquired a new position in Check Point Software Technologies in the fourth quarter valued at about $25,000. FSA Wealth Management LLC acquired a new position in Check Point Software Technologies in the third quarter valued at about $27,000. Capital A Wealth Management LLC acquired a new position in Check Point Software Technologies in the fourth quarter valued at about $29,000. GAMMA Investing LLC boosted its position in Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after buying an additional 60 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the fourth quarter worth approximately $35,000. 98.51% of the stock is currently 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.