Check Point Software Technologies (NASDAQ:CHKP) Hits New 52-Week High – Should You Buy?

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) reached a new 52-week high during trading on Friday . The company traded as high as $227.74 and last traded at $224.31, with a volume of 106456 shares trading hands. The stock had previously closed at $223.48.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley boosted their price objective on shares of Check Point Software Technologies from $183.00 to $200.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Citigroup boosted their price objective on Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Scotiabank boosted their price target on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 31st. Susquehanna increased their price objective 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, JPMorgan Chase & Co. raised shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $221.00 to $255.00 in a research report on Wednesday, February 26th. Seventeen analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $224.86.

Check Point Software Technologies Price Performance

The firm has a market cap of $24.77 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. The stock’s fifty day moving average price is $203.96 and its 200-day moving average price is $194.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can grew its position in shares of Check Point Software Technologies by 32.2% in the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock valued at $16,532,000 after purchasing an additional 20,866 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Check Point Software Technologies in the third quarter worth approximately $1,599,000. Truist Financial Corp increased its position in Check Point Software Technologies by 2.6% during the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock worth $22,311,000 after purchasing an additional 3,080 shares during the last quarter. MML Investors Services LLC boosted its holdings in shares of Check Point Software Technologies by 3.7% in the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after purchasing an additional 3,655 shares during the last quarter. Finally, Hickory Asset Management Inc. purchased a new stake in shares of Check Point Software Technologies during the 4th quarter valued at $476,000. 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.