Check Point Software Technologies (NASDAQ:CHKP) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Check Point Software Technologies (NASDAQ:CHKP) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday morning, Marketbeat reports. JPMorgan Chase & Co. currently has $255.00 price objective on the technology company’s stock, up from their previous price objective of $221.00.

Other analysts have also issued research reports about the company. The Goldman Sachs Group lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and increased their target price for the stock from $204.00 to $207.00 in a research note on Thursday, January 2nd. UBS Group increased their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Morgan Stanley raised their price target on Check Point Software Technologies from $183.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Finally, Robert W. Baird set a $235.00 price target on Check Point Software Technologies in a research note on Friday, January 31st. Nineteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $219.64.

Check Point Software Technologies Stock Up 1.0 %

CHKP stock opened at $220.92 on Wednesday. The business’s fifty day simple moving average is $200.15 and its two-hundred day simple moving average is $192.87. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $226.02. The firm has a market cap of $24.30 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 3.41 and a beta of 0.65.

Institutional Investors Weigh In On Check Point Software Technologies

Several institutional investors have recently added to or reduced their stakes in CHKP. Norges Bank acquired a new stake in Check Point Software Technologies in the fourth quarter worth about $428,820,000. Clearbridge Investments LLC acquired a new stake in Check Point Software Technologies in the fourth quarter worth about $100,456,000. Causeway Capital Management LLC boosted its holdings in Check Point Software Technologies by 33.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock worth $360,257,000 after acquiring an additional 487,823 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Check Point Software Technologies by 73.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after acquiring an additional 464,821 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in Check Point Software Technologies in the fourth quarter worth about $73,186,000. 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.