UPDATE: Standpoint Research Downgrades Check Point Software Technologies Ltd. to Hold

Standpoint Research downgrades Check Point Software Technologies Ltd. CHKP from Buy to Hold. The firm's Ronnie Moas said he is "looking to lock in some gains" with the stock market yet again inching toward new all-time-high levels. Moas pointed out he captured "the recovery of that heavy loss CHKP suffered in March." The analyst called Check Point shares "fairly valued at > 13X estimates for 2014 and 16X trailing twelve months earnings." Moas sees the stock tracking the market moving forward. Shares of Check Point are up 0.6 percent to $52.13 at last check.