Check Point Software Technologies (NASDAQ:CHKP) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a neutral rating to an overweight rating in a report published on Wednesday morning, Marketbeat reports. They currently have $255.00 price objective on the technology company’s stock, up from their previous price objective of $221.00.

CHKP has been the topic of several other research reports. Stifel Nicolaus boosted their price target on Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Robert W. Baird set a $235.00 price objective on Check Point Software Technologies in a report on Friday, January 31st. Barclays boosted their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $205.00 to $195.00 in a report on Wednesday, October 30th. Finally, Guggenheim reissued a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 31st. Eighteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and an average target price of $221.91.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock opened at $220.26 on Wednesday. The business’s 50-day simple moving average is $201.38 and its two-hundred day simple moving average is $193.31. The company has a market cap of $24.22 billion, a PE ratio of 29.49, a PEG ratio of 3.41 and a beta of 0.65. Check Point Software Technologies has a fifty-two week low of $145.75 and a fifty-two week high of $226.02.

Hedge Funds Weigh In On Check Point Software Technologies

A number of hedge funds have recently made changes to their positions in CHKP. Nemes Rush Group LLC acquired a new position in shares of Check Point Software Technologies during the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the third quarter valued at approximately $27,000. Capital A Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC raised its holdings in shares of Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after acquiring an additional 60 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds 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.