Morgan Stanley Begins Coverage on Check Point Software Technologies (NASDAQ:CHKP)

Equities researchers at Morgan Stanley began coverage on shares of Check Point Software Technologies (NASDAQ:CHKP) in a report released on Tuesday. The brokerage set an “equal weight” rating on the technology company’s stock.

A number of other analysts have also recently weighed in on the stock. Mizuho boosted their target price on shares of Check Point Software Technologies from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Arete Research raised Check Point Software Technologies to a “hold” rating in a report on Monday, February 24th. JPMorgan Chase & Co. upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $221.00 to $255.00 in a research report on Wednesday, February 26th. StockNews.com lowered Check Point Software Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 price target on shares of Check Point Software Technologies in a research note on Monday, January 27th. Eighteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $227.26.

Check Point Software Technologies Trading Down 0.7 %

NASDAQ CHKP traded down $1.64 during trading on Tuesday, hitting $228.75. 45,814 shares of the company’s stock were exchanged, compared to its average volume of 988,697. The company has a market cap of $25.16 billion, a PE ratio of 30.62, a P/E/G ratio of 3.41 and a beta of 0.62. The stock’s 50 day moving average price is $209.39 and its two-hundred day moving average price is $196.11. Check Point Software Technologies has a fifty-two week low of $145.75 and a fifty-two week high of $231.58.

Hedge Funds Weigh In On Check Point Software Technologies

Several hedge funds have recently made changes to their positions in CHKP. Gitterman Wealth Management LLC increased its position in Check Point Software Technologies by 3.2% during the 4th quarter. Gitterman Wealth Management LLC now owns 1,533 shares of the technology company’s stock valued at $286,000 after purchasing an additional 48 shares during the period. TD Waterhouse Canada Inc. increased its position in shares of Check Point Software Technologies by 1.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,095 shares of the technology company’s stock valued at $578,000 after buying an additional 52 shares during the period. Argonautica Private Wealth Management Inc. grew its holdings in shares of Check Point Software Technologies by 0.9% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,002 shares of the technology company’s stock worth $1,121,000 after acquiring an additional 56 shares during the period. Regatta Capital Group LLC boosted its position in shares of Check Point Software Technologies by 4.9% during the fourth quarter. Regatta Capital Group LLC now owns 1,229 shares of the technology company’s stock valued at $229,000 after purchasing an additional 57 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in Check Point Software Technologies by 3.1% during the fourth quarter. Kingsview Wealth Management LLC now owns 1,891 shares of the technology company’s stock valued at $353,000 after buying an additional 57 shares during the period. 98.51% of the stock is 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.