Check Point Software Technologies (NASDAQ:CHKP) Upgraded to "Buy" at Bank of America

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) was upgraded by equities researchers at Bank of America from a "neutral" rating to a "buy" rating in a report released on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $260.00 price objective on the technology company's stock, up from their previous price objective of $230.00. Bank of America's target price would indicate a potential upside of 14.10% from the company's current price.Time to Buy These Up-and-Coming Software Firms?Other research analysts also recently issued reports about the company. Piper Sandler upgraded Check Point Software Technologies from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $220.00 to $260.00 in a report on Monday, March 3rd. Jefferies Financial Group upped their target price on Check Point Software Technologies from $250.00 to $255.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Robert W. Baird raised Check Point Software Technologies from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $235.00 to $255.00 in a research note on Thursday, February 27th. Guggenheim reaffirmed a "neutral" rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Finally, Truist Financial reissued a "buy" rating and issued a $250.00 target price (up from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. Sixteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $232.82.Read Our Latest Stock Report on Check Point Software TechnologiesCheck Point Software Technologies Stock Down 1.2 %Is CoStar Group Stock a Buy Before Earnings? Analysts Think SoShares of NASDAQ:CHKP opened at $227.87 on Thursday. The company has a market capitalization of $25.06 billion, a P/E ratio of 30.50, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $232.66. The stock's fifty day simple moving average is $215.88 and its 200-day simple moving average is $197.97. Institutional Investors Weigh In On Check Point Software TechnologiesSeveral hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Check Point Software Technologies in the 4th quarter valued at $428,820,000. Clearbridge Investments LLC bought a new position in shares of Check Point Software Technologies in the fourth quarter valued at $100,456,000. Causeway Capital Management LLC grew its holdings in shares of Check Point Software Technologies by 33.8% during the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock valued at $360,257,000 after buying an additional 487,823 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Check Point Software Technologies by 73.8% in the 3rd 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 valued at $211,105,000 after acquiring an additional 464,821 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new position in Check Point Software Technologies during the 4th quarter valued at about $73,186,000. 98.51% of the stock is owned by institutional investors. About Check Point Software Technologies (Get Free Report)Sentinel One Stock Is the Growth Story Goldman Sachs Is BuyingCheck 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.Read MoreFive stocks we like better than Check Point Software TechnologiesHow to trade penny stocks: A step-by-step guide2 Stocks With Strong Fundamentals Gaining Technical MomentumInsider Trades May Not Tell You What You ThinkUp 32% in 2025, Is Chinese E-Commerce Giant PDD Still a Buy?How Can Investors Benefit From After-Hours TradingMaybe It’s Time to Buy Some GameStop StockThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Check Point Software Technologies Right Now?Before you consider Check Point Software Technologies, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Check Point Software Technologies wasn't on the list.While Check Point Software Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here