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 firm presently has a $260.00 target price on the technology company’s stock, up from their prior target price of $230.00. Bank of America‘s price target would indicate a potential upside of 14.10% from the company’s current price.

A number of other research firms have also recently commented on CHKP. Susquehanna boosted their price target on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a research note on Friday, January 31st. UBS Group upped their target price on shares of 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. Baird R W upgraded Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 27th. StockNews.com raised Check Point Software Technologies from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $221.00 to $255.00 in a research report on Wednesday, February 26th. Sixteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $232.82.

Check Point Software Technologies Stock Down 1.2 %

CHKP stock opened at $227.87 on Thursday. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $232.66. The firm has a market capitalization of $25.06 billion, a PE ratio of 30.50, a PEG ratio of 3.41 and a beta of 0.62. The stock has a 50-day simple moving average of $215.88 and a two-hundred day simple moving average of $197.97.

Hedge Funds Weigh In On Check Point Software Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nemes Rush Group LLC acquired a new stake in Check Point Software Technologies in the 4th quarter valued at about $25,000. FSA Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the third quarter worth $27,000. Capital A Wealth Management LLC purchased a new position in Check Point Software Technologies in the fourth quarter valued at $29,000. GAMMA Investing LLC raised its stake 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 purchased a new stake in Check Point Software Technologies during the 4th quarter worth about $35,000. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

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.