Check Point Software Technologies (NASDAQ:CHKP) Rating Increased to Outperform at BMO Capital Markets

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report issued on Friday, Marketbeat reports. The firm currently has a $275.00 price target on the technology company’s stock, up from their prior price target of $245.00. BMO Capital Markets’ target price points to a potential upside of 20.42% from the stock’s previous close.

A number of other brokerages have also recently commented on CHKP. Arete Research upgraded Check Point Software Technologies to a “hold” rating in a research report on Monday, February 24th. Scotiabank upped their price target on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 31st. UBS Group increased 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. Jefferies Financial Group lifted 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 research note on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Sixteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Hold” and an average price target of $234.18.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock opened at $228.37 on Friday. The stock has a market capitalization of $25.12 billion, a PE ratio of 30.57, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $234.36. The company’s fifty day simple moving average is $217.58 and its 200-day simple moving average is $198.54.

Hedge Funds Weigh In On Check Point Software Technologies

A number of institutional investors and hedge funds have recently modified their holdings of CHKP. Nemes Rush Group LLC purchased a new position in Check Point Software Technologies during the fourth quarter worth $25,000. FSA Wealth Management LLC purchased a new position in shares of Check Point Software Technologies during the 3rd quarter worth about $27,000. Capital A Wealth Management LLC bought a new position in Check Point Software Technologies during the 4th quarter valued at about $29,000. GAMMA Investing LLC raised its position in Check Point Software Technologies by 53.1% in the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after purchasing an additional 60 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in Check Point Software Technologies in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

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.