Check Point Software Technologies (NASDAQ:CHKP) Reaches New 52-Week High – Still a Buy?

Check Point Software Technologies Ltd. (NASDAQ:CHKP)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $231.56 and last traded at $231.09, with a volume of 691059 shares. The stock had previously closed at $224.84.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CHKP shares. Guggenheim reiterated a “neutral” rating on shares of Check Point Software Technologies in a research report on Friday, January 31st. UBS Group upped their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Citigroup lifted their target price on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, Susquehanna upped their target price on Check Point Software Technologies from $215.00 to $255.00 and gave the company a “positive” rating in a research report on Friday, January 31st. Eighteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $227.26.

Check Point Software Technologies Price Performance

The firm’s 50 day moving average price is $208.38 and its 200 day moving average price is $195.84. The stock has a market capitalization of $25.34 billion, a P/E ratio of 30.84, a P/E/G ratio of 3.41 and a beta of 0.62.

Institutional Investors Weigh In On Check Point Software Technologies

Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can raised its position in 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 worth $16,532,000 after acquiring an additional 20,866 shares during the period. Truist Financial Corp grew its position in shares of Check Point Software Technologies by 2.6% during the 4th quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock worth $22,311,000 after buying an additional 3,080 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its holdings in Check Point Software Technologies by 99.3% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock worth $928,000 after buying an additional 2,478 shares during the period. 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 buying an additional 3,655 shares in the last quarter. Finally, Hickory Asset Management Inc. acquired a new stake in Check Point Software Technologies in the fourth quarter worth about $476,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

About Check Point Software Technologies

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.