Check Point Software Technologies Ltd. (NASDAQ:CHKP) Given Average Recommendation of “Hold” by Analysts

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) have earned an average rating of “Hold” from the twenty-seven brokerages that are presently covering the company, MarketBeat Ratings reports. Fifteen research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $234.18.

Several equities analysts have recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 target price on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Robert W. Baird upgraded shares of Check Point Software Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $235.00 to $255.00 in a research note on Thursday, February 27th. Piper Sandler raised shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $220.00 to $260.00 in a research report on Monday, March 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 price target on shares of Check Point Software Technologies in a research report on Monday, January 27th. Finally, Truist Financial reissued a “buy” rating and issued a $250.00 price objective (up from $220.00) on shares of Check Point Software Technologies in a report on Friday, January 31st.

Check Point Software Technologies Stock Performance

Shares of CHKP opened at $227.92 on Tuesday. Check Point Software Technologies has a one year low of $145.75 and a one year high of $234.36. The stock has a 50-day moving average price of $218.38 and a 200 day moving average price of $198.86. The company has a market capitalization of $25.07 billion, a P/E ratio of 30.51, a P/E/G ratio of 3.41 and a beta of 0.62.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Check Point Software Technologies during the fourth quarter worth approximately $428,820,000. Causeway Capital Management LLC boosted its position in Check Point Software Technologies by 33.8% during the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock worth $360,257,000 after acquiring an additional 487,823 shares during the period. First Trust Advisors LP grew its stake in shares of Check Point Software Technologies by 17.4% in the fourth 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. increased its holdings in shares of Check Point Software Technologies by 10.6% during the fourth 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, FMR LLC raised its stake in shares of Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after purchasing an additional 252,581 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

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.