Check Point Software Technologies (NASDAQ:CHKP) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Check Point Software Technologies (NASDAQ:CHKP) from a buy rating to a hold rating in a report published on Saturday morning.

Other equities analysts also recently issued reports about the company. Bank of America upgraded Check Point Software Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $230.00 to $260.00 in a report on Thursday, March 27th. Scotiabank upped their target price on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the company a “sector outperform” rating in a research note on Friday, January 31st. Cantor Fitzgerald restated a “neutral” rating and set a $200.00 price objective on shares of Check Point Software Technologies in a research note on Monday, January 27th. Jefferies Financial Group boosted 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 research report on Thursday, February 27th. Finally, Stifel Nicolaus increased their target price on Check Point Software Technologies from $190.00 to $220.00 and gave the stock a “hold” rating in a 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and a consensus price target of $234.18.

Check Point Software Technologies Stock Performance

CHKP opened at $227.92 on Friday. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $234.36. The company’s 50 day simple moving average is $218.38 and its 200 day simple moving average is $198.86. The stock has a market capitalization of $25.07 billion, a PE ratio of 30.51, a P/E/G ratio of 3.41 and a beta of 0.62.

Institutional Investors Weigh In On Check Point Software Technologies

Institutional investors have recently added to or reduced their stakes in the company. Nemes Rush Group LLC acquired a new stake in Check Point Software Technologies during the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC purchased a new stake in Check Point Software Technologies in the 3rd quarter worth about $27,000. Capital A Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies during the fourth quarter worth approximately $29,000. GAMMA Investing LLC grew its holdings in shares of Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after acquiring 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 in the fourth quarter worth $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.