Check Point Software Technologies (NASDAQ:CHKP) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Check Point Software Technologies (NASDAQ:CHKP) in a report published on Thursday morning,Benzinga reports.

A number of other analysts have also issued reports on CHKP. Cantor Fitzgerald reiterated a “neutral” rating and issued a $200.00 price target on shares of Check Point Software Technologies in a report on Monday, January 27th. Jefferies Financial Group upped their target price on Check Point Software Technologies from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus increased their price target on Check Point Software Technologies from $190.00 to $220.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Robert W. Baird upgraded Check Point Software Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $235.00 to $255.00 in a report on Thursday. Finally, Scotiabank increased their target price on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the stock a “sector outperform” rating in a report on Friday, January 31st. Eighteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $221.91.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $216.69 on Thursday. The firm has a market capitalization of $23.83 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 3.41 and a beta of 0.65. The company has a 50-day moving average of $200.74 and a 200 day moving average of $193.03. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $226.02.

Institutional Investors Weigh In On Check Point Software Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHKP. Brucke Financial Inc. acquired a new position in shares of Check Point Software Technologies during the fourth quarter valued at about $214,000. Bernard Wealth Management Corp. purchased a new stake in Check Point Software Technologies during the 4th quarter worth approximately $76,000. Capital A Wealth Management LLC acquired a new position in Check Point Software Technologies during the 4th quarter valued at approximately $29,000. Mackenzie Financial Corp raised its holdings in shares of Check Point Software Technologies by 2.5% in the fourth quarter. Mackenzie Financial Corp now owns 20,730 shares of the technology company’s stock worth $3,870,000 after buying an additional 506 shares during the last quarter. Finally, WCG Wealth Advisors LLC lifted its stake in shares of Check Point Software Technologies by 6.4% during the fourth quarter. WCG Wealth Advisors LLC now owns 13,472 shares of the technology company’s stock worth $2,515,000 after buying an additional 814 shares during the period. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

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.