Bank of America lowered shares of Check Point Software Technologies (NASDAQ:CHKP) from a buy rating to an underperform rating in a research report sent to investors on Thursday, BenzingaRatingsTable reports. They currently have $116.00 price target on the technology company’s stock, down from their prior price target of $130.00.
Other equities research analysts have also recently issued reports about the company. ValuEngine cut Check Point Software Technologies from a buy rating to a hold rating in a research note on Wednesday, July 24th. Robert W. Baird reissued a hold rating on shares of Check Point Software Technologies in a research note on Sunday, September 15th. Evercore ISI set a $105.00 price objective on Check Point Software Technologies and gave the stock a hold rating in a research note on Wednesday, July 24th. BidaskClub raised Check Point Software Technologies from a strong sell rating to a sell rating in a research note on Thursday, September 12th. Finally, Cowen initiated coverage on Check Point Software Technologies in a research note on Thursday, May 23rd. They set a market perform rating and a $120.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $123.94.
NASDAQ:CHKP opened at $108.90 on Thursday. The business’s 50-day moving average is $109.09 and its 200 day moving average is $116.35. Check Point Software Technologies has a 12 month low of $98.57 and a 12 month high of $132.76. The company has a market capitalization of $16.47 billion, a P/E ratio of 20.90, a P/E/G ratio of 2.23 and a beta of 0.79.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Motco bought a new position in shares of Check Point Software Technologies during the second quarter valued at approximately $26,000. Private Capital Group LLC grew its stake in Check Point Software Technologies by 81.1% in the second quarter. Private Capital Group LLC now owns 288 shares of the technology company’s stock worth $28,000 after purchasing an additional 129 shares in the last quarter. Pinnacle Bank grew its stake in Check Point Software Technologies by 69.7% in the second quarter. Pinnacle Bank now owns 258 shares of the technology company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. NuWave Investment Management LLC grew its stake in Check Point Software Technologies by 64.5% in the second quarter. NuWave Investment Management LLC now owns 306 shares of the technology company’s stock worth $36,000 after purchasing an additional 120 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in Check Point Software Technologies in the second quarter worth approximately $37,000. 70.85% of the stock is currently 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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.
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