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

Check Point Software Technologies (NASDAQ:CHKP) had its price objective decreased by equities researchers at Morgan Stanley from $235.00 to $220.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price points to a potential downside of 0.78% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Compass Point set a $260.00 target price on shares of Check Point Software Technologies in a research note on Thursday, March 27th. Mizuho boosted their target price on shares of Check Point Software Technologies from $220.00 to $230.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Stephens began coverage on shares of Check Point Software Technologies in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $255.00 target price for the company. BMO Capital Markets upgraded Check Point Software Technologies from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $245.00 to $275.00 in a research note on Friday, March 28th. Finally, Stifel Nicolaus lifted their target price on Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a report on Friday, January 31st. Fifteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.50.

Check Point Software Technologies Trading Down 1.2 %

CHKP stock traded down $2.73 during trading on Wednesday, hitting $221.74. The company had a trading volume of 172,246 shares, compared to its average volume of 762,339. The stock has a market cap of $24.39 billion, a PE ratio of 29.68, a PEG ratio of 3.41 and a beta of 0.62. The business has a 50-day moving average of $221.73 and a 200-day moving average of $201.07. Check Point Software Technologies has a one year low of $145.75 and a one year high of $234.36.

Institutional Trading of Check Point Software Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in Check Point Software Technologies by 180.3% during the third quarter. Wellington Management Group LLP now owns 13,433 shares of the technology company’s stock valued at $2,590,000 after buying an additional 8,641 shares during the last quarter. Barclays PLC grew its holdings in shares of Check Point Software Technologies by 6.0% in the third quarter. Barclays PLC now owns 80,432 shares of the technology company’s stock valued at $15,507,000 after purchasing an additional 4,522 shares in the last quarter. Anchor Investment Management LLC raised its stake in Check Point Software Technologies by 8.2% during the third quarter. Anchor Investment Management LLC now owns 5,985 shares of the technology company’s stock valued at $1,154,000 after purchasing an additional 455 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of Check Point Software Technologies during the 3rd quarter valued at about $5,546,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Check Point Software Technologies in the 3rd quarter valued at about $187,000. 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.