Check Point Software Technologies (NASDAQ:CHKP) Reaches New 1-Year High – Here’s What Happened

Check Point Software Technologies Ltd. (NASDAQ:CHKP) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $232.66 and last traded at $229.69, with a volume of 18455 shares trading hands. The stock had previously closed at $230.58.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $220.00 to $260.00 in a research note on Monday, March 3rd. Mizuho increased their price target on Check Point Software Technologies from $220.00 to $230.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. UBS Group lifted their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Stifel Nicolaus increased their target price on Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Finally, Citigroup boosted their price target on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $232.82.

Check Point Software Technologies Trading Up 1.5 %

The company has a market capitalization of $25.44 billion, a PE ratio of 30.97, a PEG ratio of 3.41 and a beta of 0.62. The firm’s 50-day simple moving average is $216.77 and its 200-day simple moving average is $198.20.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CHKP. Nemes Rush Group LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter worth $25,000. FSA Wealth Management LLC purchased a new stake in Check Point Software Technologies in the third quarter worth about $27,000. Capital A Wealth Management LLC purchased a new stake in Check Point Software Technologies in the fourth quarter worth about $29,000. GAMMA Investing LLC increased its position in Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after purchasing an additional 60 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in Check Point Software Technologies during the 4th quarter valued at about $35,000. 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.