Needham & Company LLC Reaffirms Hold Rating for Check Point Software Technologies (NASDAQ:CHKP)

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

A number of other research firms have also issued reports on CHKP. Scotiabank lifted their price objective on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the company a “sector outperform” rating in a research note on Friday, January 31st. Stifel Nicolaus lifted their price target on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. The Goldman Sachs Group cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and upped their price objective for the company from $204.00 to $207.00 in a research report on Thursday, January 2nd. BMO Capital Markets lifted their target price on Check Point Software Technologies from $215.00 to $245.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Finally, Mizuho increased their price target on Check Point Software Technologies from $220.00 to $230.00 and gave the company a “neutral” rating in a report on Wednesday. Eighteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $221.91.

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP opened at $220.26 on Thursday. The business’s 50-day simple moving average is $201.38 and its 200 day simple moving average is $193.31. The company has a market cap of $24.22 billion, a P/E ratio of 29.49, a PEG ratio of 3.41 and a beta of 0.65. Check Point Software Technologies has a one year low of $145.75 and a one year high of $226.02.

Institutional Trading of Check Point Software Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can grew its stake in 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 buying an additional 20,866 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Check Point Software Technologies during the third quarter worth about $1,599,000. Truist Financial Corp increased its holdings in shares of Check Point Software Technologies by 2.6% in 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 lifted its position 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 last quarter. Finally, CIBC Asset Management Inc boosted its stake in Check Point Software Technologies by 14.5% during the 4th quarter. CIBC Asset Management Inc now owns 9,589 shares of the technology company’s stock valued at $1,790,000 after purchasing an additional 1,215 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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.