Check Point Software Technologies (NASDAQ:CHKP) Price Target Lowered to $220.00 at Morgan Stanley

Check Point Software Technologies (NASDAQ:CHKP) had its price target dropped by equities researchers at Morgan Stanley from $235.00 to $220.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price points to a potential upside of 2.34% from the company’s previous close.

A number of other research firms have also issued reports on CHKP. Stifel Nicolaus boosted their target price on shares of 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. Wells Fargo & Company upgraded Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $200.00 to $280.00 in a research report on Friday, March 14th. Bank of America upgraded Check Point Software Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $230.00 to $260.00 in a research report on Thursday, March 27th. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Finally, Scotiabank raised their price target on Check Point Software Technologies from $215.00 to $250.00 and gave the company a “sector outperform” rating in a report on Friday, January 31st. Fifteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Check Point Software Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.50.

Check Point Software Technologies Stock Performance

Shares of CHKP opened at $214.96 on Wednesday. The firm has a fifty day moving average of $221.79 and a 200-day moving average of $201.32. The company has a market cap of $23.64 billion, a price-to-earnings ratio of 28.78, a price-to-earnings-growth 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.

Institutional Trading of Check Point Software Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Check Point Software Technologies in the fourth quarter worth approximately $428,820,000. Causeway Capital Management LLC boosted its stake in Check Point Software Technologies by 33.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock worth $360,257,000 after purchasing an additional 487,823 shares during the period. First Trust Advisors LP grew its position in Check Point Software Technologies by 17.4% during the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock worth $340,314,000 after purchasing an additional 269,925 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Check Point Software Technologies by 10.6% during the 4th quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company’s stock valued at $266,930,000 after purchasing an additional 136,699 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Check Point Software Technologies by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company’s stock valued at $158,035,000 after purchasing an additional 27,267 shares in the last quarter. Institutional investors and hedge funds 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.