Check Point Software Technologies (NASDAQ:CHKP) Stock Rating Upgraded by JPMorgan Chase & Co.

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $255.00 price target on the technology company’s stock, up from their previous price target of $221.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 16.64% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Scotiabank lifted their price objective on 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 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. Bank of America downgraded shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $205.00 to $195.00 in a research report on Wednesday, October 30th. Guggenheim reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 31st. Finally, Piper Sandler increased their price target on shares of Check Point Software Technologies from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Nineteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $218.50.

Check Point Software Technologies Price Performance

NASDAQ:CHKP opened at $218.63 on Wednesday. Check Point Software Technologies has a one year low of $145.75 and a one year high of $226.02. The company’s 50-day simple moving average is $199.35 and its 200 day simple moving average is $192.67. The firm has a market capitalization of $24.05 billion, a P/E ratio of 29.27, a PEG ratio of 3.41 and a beta of 0.65.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC increased its holdings in Check Point Software Technologies by 6.1% in the 3rd quarter. Private Advisor Group LLC now owns 2,108 shares of the technology company’s stock worth $406,000 after acquiring an additional 121 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Check Point Software Technologies during the 3rd quarter valued at $346,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Check Point Software Technologies by 115.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,992 shares of the technology company’s stock valued at $963,000 after buying an additional 2,674 shares in the last quarter. abrdn plc boosted its holdings in Check Point Software Technologies by 40.5% in the 3rd quarter. abrdn plc now owns 18,460 shares of the technology company’s stock worth $3,559,000 after buying an additional 5,321 shares during the period. Finally, Boston Financial Mangement LLC purchased a new stake in Check Point Software Technologies in the 3rd quarter worth $231,000. 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.