Check Point Software Technologies Ltd. (NASDAQ:CHKP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) have received an average rating of “Moderate Buy” from the twenty-eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Fifteen investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $235.50.

A number of research analysts recently commented on CHKP shares. BMO Capital Markets raised shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating and increased their target price for the company from $245.00 to $275.00 in a research report on Friday, March 28th. StockNews.com raised Check Point Software Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, April 9th. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. JPMorgan Chase & Co. upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $221.00 to $255.00 in a research note on Wednesday, February 26th. Finally, Guggenheim reissued a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 31st.

Check Point Software Technologies Stock Performance

NASDAQ:CHKP opened at $214.96 on Friday. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $234.36. The stock has a market cap of $23.64 billion, a P/E ratio of 28.78, a P/E/G ratio of 3.41 and a beta of 0.62. The stock has a 50-day simple moving average of $221.71 and a 200-day simple moving average of $201.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CHKP. Barclays PLC lifted its holdings in shares of Check Point Software Technologies by 6.0% during the 3rd quarter. Barclays PLC now owns 80,432 shares of the technology company’s stock valued at $15,507,000 after acquiring an additional 4,522 shares in the last quarter. Anchor Investment Management LLC raised its position in Check Point Software Technologies by 8.2% in the third quarter. Anchor Investment Management LLC now owns 5,985 shares of the technology company’s stock valued at $1,154,000 after purchasing an additional 455 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Check Point Software Technologies in the third quarter worth about $5,546,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Check Point Software Technologies in the third quarter valued at about $187,000. Finally, Tidal Investments LLC raised its holdings in shares of Check Point Software Technologies by 3.1% during the 3rd quarter. Tidal Investments LLC now owns 40,686 shares of the technology company’s stock valued at $7,845,000 after buying an additional 1,224 shares during the period. 98.51% of the stock is 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.