Check Point Software Technologies (NASDAQ:CHKP) Coverage Initiated at Morgan Stanley

Equities research analysts at Morgan Stanley initiated coverage on shares of Check Point Software Technologies (NASDAQ:CHKP) in a report released on Tuesday. The firm set an “equal weight” rating on the technology company’s stock.

CHKP has been the topic of several other reports. Robert W. Baird upgraded shares of Check Point Software Technologies from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $235.00 to $255.00 in a research report on Thursday, February 27th. Mizuho lifted their target price on Check Point Software Technologies from $220.00 to $230.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Baird R W upgraded Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 27th. Barclays lifted their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, Guggenheim restated a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Eighteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Hold” and an average price target of $227.26.

Check Point Software Technologies Stock Performance

Shares of CHKP traded down $1.64 on Tuesday, hitting $228.75. 45,814 shares of the stock traded hands, compared to its average volume of 988,697. The company has a market capitalization of $25.16 billion, a PE ratio of 30.62, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a one year low of $145.75 and a one year high of $231.58. The business has a 50 day simple moving average of $209.39 and a 200 day simple moving average of $196.11.

Institutional Trading of Check Point Software Technologies

A number of institutional investors have recently modified their holdings of CHKP. Wealth Enhancement Advisory Services LLC lifted its position in Check Point Software Technologies by 2.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,136 shares of the technology company’s stock worth $959,000 after acquiring an additional 144 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Check Point Software Technologies during the fourth quarter worth about $3,756,000. Centaurus Financial Inc. boosted its position in Check Point Software Technologies by 48.5% in the fourth quarter. Centaurus Financial Inc. now owns 3,777 shares of the technology company’s stock valued at $705,000 after buying an additional 1,234 shares during the last quarter. Capstone Triton Financial Group LLC raised its position in Check Point Software Technologies by 1.3% during the 4th quarter. Capstone Triton Financial Group LLC now owns 10,863 shares of the technology company’s stock worth $2,028,000 after buying an additional 138 shares during the last quarter. Finally, Siemens Fonds Invest GmbH acquired a new stake in Check Point Software Technologies during the 4th quarter valued at approximately $1,373,000. 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.