Check Point Software Technologies (NASDAQ:CHKP) Earns “Sector Perform” Rating from Royal Bank of Canada

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “sector perform” rating restated by stock analysts at Royal Bank of Canada in a research note issued to investors on Thursday,Benzinga reports. They presently have a $215.00 price target on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential downside of 1.92% from the company’s previous close.

Several other brokerages have also commented on CHKP. Morgan Stanley boosted their target price on shares of Check Point Software Technologies from $183.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Bank of America downgraded shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $205.00 to $195.00 in a report on Wednesday, October 30th. Jefferies Financial Group increased their target price on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the company a “buy” rating in a report on Thursday. Barclays boosted their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Truist Financial restated a “buy” rating and issued a $250.00 price target (up previously 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 given a buy rating to the company’s stock. According to MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and an average target price of $221.91.

Check Point Software Technologies Stock Down 0.8 %

Shares of Check Point Software Technologies stock traded down $1.70 during trading on Thursday, reaching $219.22. The company’s stock had a trading volume of 355,704 shares, compared to its average volume of 890,731. The business has a 50 day moving average price of $200.15 and a 200-day moving average price of $192.87. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $226.02. The company has a market capitalization of $24.11 billion, a P/E ratio of 29.32, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65.

Institutional Investors Weigh In On Check Point Software Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in CHKP. Gitterman Wealth Management LLC lifted its position in Check Point Software Technologies by 3.2% during the fourth quarter. Gitterman Wealth Management LLC now owns 1,533 shares of the technology company’s stock worth $286,000 after buying an additional 48 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of Check Point Software Technologies by 1.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,095 shares of the technology company’s stock worth $578,000 after acquiring an additional 52 shares during the period. Argonautica Private Wealth Management Inc. boosted its position in shares of Check Point Software Technologies by 0.9% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 6,002 shares of the technology company’s stock worth $1,121,000 after acquiring an additional 56 shares during the last quarter. Regatta Capital Group LLC grew its holdings in Check Point Software Technologies by 4.9% in the fourth quarter. Regatta Capital Group LLC now owns 1,229 shares of the technology company’s stock valued at $229,000 after purchasing an additional 57 shares during the period. Finally, Kingsview Wealth Management LLC grew its holdings in Check Point Software Technologies by 3.1% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,891 shares of the technology company’s stock valued at $353,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

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.