Scotiabank Forecasts Strong Price Appreciation for Check Point Software Technologies (NASDAQ:CHKP) Stock

Check Point Software Technologies (NASDAQ:CHKP) had its target price hoisted by Scotiabank from $215.00 to $250.00 in a research report report published on Friday morning,Benzinga reports. They currently have a sector outperform rating on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. Robert W. Baird dropped their price objective on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $200.00 target price on shares of Check Point Software Technologies in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research report on Friday. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a research report on Friday, January 24th. Nineteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $215.27.

Check Point Software Technologies Trading Down 0.4 %

CHKP stock opened at $218.02 on Friday. The company has a 50-day moving average price of $188.67 and a 200 day moving average price of $187.85. Check Point Software Technologies has a 12 month low of $145.75 and a 12 month high of $226.02. The stock has a market cap of $23.98 billion, a PE ratio of 29.78, a P/E/G ratio of 3.19 and a beta of 0.63.

Hedge Funds Weigh In On Check Point Software Technologies

Hedge funds have recently modified their holdings of the business. Bank of Montreal Can lifted its holdings in shares of Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after purchasing an additional 20,866 shares during the period. CWA Asset Management Group LLC purchased a new stake in shares of Check Point Software Technologies in the 3rd quarter worth about $1,599,000. MML Investors Services LLC boosted its position in shares of Check Point Software Technologies by 3.7% in the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock worth $19,957,000 after buying an additional 3,655 shares in the last quarter. Martin Investment Management LLC raised its stake in Check Point Software Technologies by 2.0% in the 3rd quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock valued at $31,497,000 after purchasing an additional 3,225 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its stake in Check Point Software Technologies by 69.6% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company’s stock valued at $4,502,000 after purchasing an additional 9,580 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

About Check Point Software Technologies

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.