Check Point Software Technologies Ltd. (NASDAQ:CHKP) Given Average Rating of “Hold” by Brokerages

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) have received an average rating of “Hold” from the twenty-seven research firms that are currently covering the stock, MarketBeat Ratings reports. Fifteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $236.50.

Several equities analysts recently weighed in on CHKP shares. Scotiabank dropped their price objective on Check Point Software Technologies from $250.00 to $240.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 24th. Roth Capital started coverage on Check Point Software Technologies in a research report on Wednesday, April 23rd. They set a “neutral” rating and a $215.00 price target for the company. Wells Fargo & Company dropped their price target on Check Point Software Technologies from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Wall Street Zen raised Check Point Software Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Finally, Barclays raised their price target on Check Point Software Technologies from $230.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $220.11 on Monday. Check Point Software Technologies has a 1-year low of $169.01 and a 1-year high of $234.35. The company has a market capitalization of $24.21 billion, a P/E ratio of 29.04, a PEG ratio of 3.15 and a beta of 0.64. The business has a 50 day moving average price of $222.85 and a 200 day moving average price of $217.81.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHKP. American Century Companies Inc. boosted its holdings in Check Point Software Technologies by 107.2% in the fourth quarter. American Century Companies Inc. now owns 41,616 shares of the technology company’s stock valued at $7,770,000 after acquiring an additional 21,532 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Check Point Software Technologies by 14.3% during the fourth quarter. LPL Financial LLC now owns 165,243 shares of the technology company’s stock worth $30,851,000 after purchasing an additional 20,676 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Check Point Software Technologies by 11.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 67,196 shares of the technology company’s stock worth $12,189,000 after purchasing an additional 6,977 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Check Point Software Technologies by 23.8% during the fourth quarter. JPMorgan Chase & Co. now owns 186,177 shares of the technology company’s stock worth $34,759,000 after purchasing an additional 35,766 shares in the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of Check Point Software Technologies by 1.3% during the fourth quarter. Blair William & Co. IL now owns 18,855 shares of the technology company’s stock worth $3,520,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

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.