Check Point Software Technologies (NASDAQ:CHKP) Rating Increased to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a neutral rating to an outperform rating in a research report released on Thursday morning, MarketBeat Ratings reports. They currently have $255.00 target price on the technology company’s stock, up from their previous target price of $235.00.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. raised shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $221.00 to $255.00 in a research report on Wednesday. Barclays raised their price objective on shares of 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. UBS Group raised their price objective on shares of 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. Royal Bank of Canada raised their price objective on shares of Check Point Software Technologies from $187.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group raised their price objective on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Eighteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Check Point Software Technologies presently has a consensus rating of “Hold” and a consensus target price of $221.91.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $216.69 on Thursday. The company has a 50 day simple moving average of $200.74 and a 200-day simple moving average of $193.03. The firm has a market capitalization of $23.83 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $226.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CHKP. Norges Bank bought a new position in shares of Check Point Software Technologies in the fourth quarter valued at about $428,820,000. Clearbridge Investments LLC bought a new position in shares of Check Point Software Technologies in the fourth quarter valued at about $100,456,000. Causeway Capital Management LLC raised its holdings in shares of Check Point Software Technologies by 33.8% in 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 buying an additional 487,823 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Check Point Software Technologies by 73.8% in the third 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 valued at $211,105,000 after buying an additional 464,821 shares during the last quarter. Finally, Altshuler Shaham Ltd bought a new position in shares of Check Point Software Technologies in the fourth quarter valued at about $73,186,000. 98.51% of the stock is 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.