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

Check Point Software Technologies (NASDAQ:CHKP)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports.

A number of other research analysts have also issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 target price on shares of Check Point Software Technologies in a report on Thursday. Morgan Stanley lifted their price objective on shares of Check Point Software Technologies from $183.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Piper Sandler increased their target price on shares of Check Point Software Technologies from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Susquehanna lifted their price target on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a research report on Friday, January 31st. Finally, Barclays increased their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Eighteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $221.91.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP opened at $220.26 on Thursday. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $226.02. The firm has a market cap of $24.22 billion, a P/E ratio of 29.49, a PEG ratio of 3.41 and a beta of 0.65. The stock has a fifty day moving average price of $201.38 and a two-hundred day moving average price of $193.31.

Hedge Funds Weigh In On Check Point Software Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC grew its stake in Check Point Software Technologies by 6.1% in the third quarter. Private Advisor Group LLC now owns 2,108 shares of the technology company’s stock valued at $406,000 after purchasing an additional 121 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at approximately $346,000. Wealth Enhancement Advisory Services LLC increased its holdings in Check Point Software Technologies by 115.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,992 shares of the technology company’s stock worth $963,000 after buying an additional 2,674 shares during the last quarter. abrdn plc raised its position in Check Point Software Technologies by 40.5% during the third quarter. abrdn plc now owns 18,460 shares of the technology company’s stock valued at $3,559,000 after acquiring an additional 5,321 shares in the last quarter. Finally, Integrated Advisors Network LLC acquired a new stake in Check Point Software Technologies in the third quarter valued at approximately $210,000. 98.51% of the stock is currently owned by hedge funds and other 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.