Check Point Software Technologies Ltd. (NASDAQ:CHKP) Receives $229.86 Consensus Target Price from Analysts

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

Several brokerages have recently issued reports on CHKP. UBS Group upped their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. StockNews.com cut shares of Check Point Software Technologies from a “buy” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $204.00 to $207.00 in a research report on Thursday, January 2nd. Guggenheim restated a “neutral” rating on shares of Check Point Software Technologies in a research report on Friday, January 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a report on Thursday, February 27th.

Check Point Software Technologies Stock Performance

CHKP stock opened at $227.92 on Tuesday. The stock’s 50 day moving average price is $218.38 and its 200 day moving average price is $198.86. The firm has a market cap of $25.07 billion, a P/E ratio of 30.51, a PEG ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $234.36.

Hedge Funds Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in CHKP. Wellington Management Group LLP raised its position in Check Point Software Technologies by 3.4% in the fourth quarter. Wellington Management Group LLP now owns 13,885 shares of the technology company’s stock valued at $2,592,000 after purchasing an additional 452 shares during the period. California State Teachers Retirement System raised its holdings in shares of Check Point Software Technologies by 0.4% during the 4th quarter. California State Teachers Retirement System now owns 121,530 shares of the technology company’s stock valued at $22,690,000 after buying an additional 470 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Check Point Software Technologies by 2.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,136 shares of the technology company’s stock worth $959,000 after acquiring an additional 144 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in Check Point Software Technologies in the 4th quarter worth approximately $3,756,000. Finally, Centaurus Financial Inc. grew its position in Check Point Software Technologies by 48.5% in the fourth quarter. Centaurus Financial Inc. now owns 3,777 shares of the technology company’s stock valued at $705,000 after acquiring an additional 1,234 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

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.