Check Point Software Technologies (NASDAQ:CHKP) Raised to Outperform at BMO Capital Markets

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a $275.00 price target on the technology company’s stock, up from their previous price target of $245.00. BMO Capital Markets’ target price points to a potential upside of 18.89% from the company’s current price.

A number of other brokerages also recently weighed in on CHKP. Citigroup upped 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 report on Friday, January 17th. Baird R W upgraded Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Bank of America upgraded Check Point Software Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $230.00 to $260.00 in a research note on Thursday. Wells Fargo & Company raised Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $200.00 to $280.00 in a report on Friday, March 14th. Finally, Susquehanna raised their price objective on Check Point Software Technologies from $215.00 to $255.00 and gave the company a “positive” rating in a research note on Friday, January 31st. Fifteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Check Point Software Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $234.18.

Check Point Software Technologies Stock Up 1.5 %

CHKP stock opened at $231.31 on Friday. Check Point Software Technologies has a 52 week low of $145.75 and a 52 week high of $233.43. The business has a 50-day simple moving average of $216.77 and a 200 day simple moving average of $198.20. The company has a market cap of $25.44 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62.

Institutional Trading of Check Point Software Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of Check Point Software Technologies by 3.4% in the 4th quarter. Wellington Management Group LLP now owns 13,885 shares of the technology company’s stock worth $2,592,000 after purchasing an additional 452 shares during the period. California State Teachers Retirement System lifted its holdings in Check Point Software Technologies by 0.4% in the fourth quarter. California State Teachers Retirement System now owns 121,530 shares of the technology company’s stock valued at $22,690,000 after buying an additional 470 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Check Point Software Technologies by 2.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,136 shares of the technology company’s stock valued at $959,000 after acquiring an additional 144 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Check Point Software Technologies during the 4th quarter worth about $3,756,000. Finally, Centaurus Financial Inc. raised its position in shares of Check Point Software Technologies by 48.5% in the 4th quarter. Centaurus Financial Inc. now owns 3,777 shares of the technology company’s stock worth $705,000 after acquiring an additional 1,234 shares in the last quarter. 98.51% of the stock is currently owned by 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.