Check Point Software Technologies (NASDAQ:CHKP) Earns “Hold” Rating from Needham & Company LLC

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports.

CHKP has been the subject of a number of other reports. Robert W. Baird raised shares of Check Point Software Technologies from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $235.00 to $255.00 in a research report on Thursday. Piper Sandler upped their price target on Check Point Software Technologies from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Evercore ISI boosted their target price on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Scotiabank lifted their target price on Check Point Software Technologies from $215.00 to $250.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 31st. Finally, Truist Financial reaffirmed a “buy” rating and issued a $250.00 price target (up from $220.00) on shares of Check Point Software Technologies in a report on Friday, January 31st. Eighteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $221.91.

Check Point Software Technologies Stock Performance

Shares of CHKP traded down $0.97 during trading hours on Thursday, hitting $219.96. The stock had a trading volume of 410,483 shares, compared to its average volume of 892,332. The company’s fifty day simple moving average is $200.15 and its 200 day simple moving average is $192.87. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $226.02. The firm has a market cap of $24.19 billion, a P/E ratio of 29.42, a P/E/G ratio of 3.41 and a beta of 0.65.

Institutional Trading of Check Point Software Technologies

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Check Point Software Technologies during the fourth quarter valued at about $428,820,000. Clearbridge Investments LLC bought a new position in Check Point Software Technologies during the fourth quarter valued at about $100,456,000. Causeway Capital Management LLC increased its stake in Check Point Software Technologies by 33.8% during the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock valued at $360,257,000 after acquiring an additional 487,823 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Check Point Software Technologies by 73.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after acquiring an additional 464,821 shares during the period. Finally, Altshuler Shaham Ltd acquired a new stake in shares of Check Point Software Technologies during the 4th quarter worth approximately $73,186,000. 98.51% of the stock is owned by institutional investors.

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.