Stephens Issues Pessimistic Forecast for Check Point Software Technologies (NASDAQ:CHKP) Stock Price

Check Point Software Technologies (NASDAQ:CHKP) had its price objective reduced by Stephens from $255.00 to $229.00 in a report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

Several other equities analysts have also recently weighed in on the company. Wells Fargo & Company dropped their price objective on Check Point Software Technologies from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday. Roth Capital began coverage on Check Point Software Technologies in a research note on Wednesday. They issued a “neutral” rating and a $215.00 price target for the company. Scotiabank reduced their price objective on shares of Check Point Software Technologies from $250.00 to $240.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 target price on shares of Check Point Software Technologies in a research report on Monday, January 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Eighteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Check Point Software Technologies has an average rating of “Hold” and an average price target of $232.04.

Check Point Software Technologies Trading Down 1.1 %

Shares of CHKP opened at $206.55 on Thursday. Check Point Software Technologies has a 12 month low of $145.75 and a 12 month high of $234.36. The firm’s 50 day moving average is $220.45 and its 200-day moving average is $202.00. The stock has a market capitalization of $22.72 billion, a PE ratio of 27.65, a P/E/G ratio of 3.41 and a beta of 0.62.

Institutional Trading of Check Point Software Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of CHKP. World Investment Advisors grew its position in shares of Check Point Software Technologies by 4.4% in the 4th quarter. World Investment Advisors now owns 30,041 shares of the technology company’s stock valued at $5,609,000 after buying an additional 1,278 shares during the last quarter. Crux Wealth Advisors bought a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $542,000. Truist Financial Corp increased its position in Check Point Software Technologies by 2.6% during the 4th quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock valued at $22,311,000 after purchasing an additional 3,080 shares during the period. Vestmark Advisory Solutions Inc. raised its holdings in Check Point Software Technologies by 99.3% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock worth $928,000 after purchasing an additional 2,478 shares during the last quarter. Finally, Hickory Asset Management Inc. acquired a new position in shares of Check Point Software Technologies in the 4th quarter worth approximately $476,000. 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.