Check Point Software Technologies (NASDAQ:CHKP) Rating Increased to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from an equal weight rating to an overweight rating in a report issued on Friday morning, MarketBeat reports. The firm currently has $280.00 price target on the technology company’s stock, up from their prior price target of $200.00.

Other equities research analysts also recently issued reports about the company. Susquehanna increased their price target on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a report on Friday, January 31st. Morgan Stanley increased their price objective on Check Point Software Technologies from $183.00 to $200.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a report on Thursday, February 27th. Stifel Nicolaus increased their price objective on Check Point Software Technologies from $190.00 to $220.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Finally, Mizuho increased their price objective on Check Point Software Technologies from $220.00 to $230.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Eighteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $227.26.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock opened at $224.84 on Friday. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $230.65. The business has a 50-day moving average of $208.38 and a two-hundred day moving average of $195.74. The company has a market capitalization of $24.73 billion, a P/E ratio of 30.10, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can boosted its stake in shares of Check Point Software Technologies by 32.2% during the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after acquiring an additional 20,866 shares during the period. Truist Financial Corp boosted its stake in shares of Check Point Software Technologies by 2.6% during the 4th quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock worth $22,311,000 after acquiring an additional 3,080 shares during the period. MML Investors Services LLC boosted its stake in Check Point Software Technologies by 3.7% in the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after purchasing an additional 3,655 shares during the period. Hickory Asset Management Inc. bought a new stake in Check Point Software Technologies in the 4th quarter valued at $476,000. Finally, Vestmark Advisory Solutions Inc. boosted its stake in Check Point Software Technologies by 99.3% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock valued at $928,000 after purchasing an additional 2,478 shares during the period. 98.51% of the stock is currently owned by institutional investors.

Check Point Software Technologies Company Profile

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.