Bank of America Upgrades Check Point Software Technologies (NASDAQ:CHKP) to “Buy”

Bank of America upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a neutral rating to a buy rating in a research note released on Thursday, Marketbeat.com reports. They currently have $260.00 target price on the technology company’s stock, up from their prior target price of $230.00.

Several other research analysts have also recently issued reports on CHKP. Piper Sandler raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $220.00 to $260.00 in a report on Monday, March 3rd. 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 research report on Thursday, February 27th. Mizuho increased their price target on Check Point Software Technologies from $220.00 to $230.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Susquehanna lifted their price target on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company raised shares of Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $200.00 to $280.00 in a research note on Friday, March 14th. Sixteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $234.18.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $228.37 on Thursday. The firm’s 50 day moving average is $217.58 and its 200-day moving average is $198.54. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $234.36. The stock has a market capitalization of $25.12 billion, a P/E ratio of 30.57, a P/E/G ratio of 3.41 and a beta of 0.62.

Hedge Funds Weigh In On Check Point Software Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nemes Rush Group LLC bought a new stake in Check Point Software Technologies in the 4th quarter valued at $25,000. FSA Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the third quarter valued at about $27,000. Capital A Wealth Management LLC bought a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $29,000. GAMMA Investing LLC grew its position in Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after buying an additional 60 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Check Point Software Technologies during the fourth quarter valued at about $35,000. Institutional investors 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.