Check Point Software Technologies (NASDAQ:CHKP) Announces Quarterly Earnings Results

Check Point Software Technologies (NASDAQ:CHKP) released its quarterly earnings data on Tuesday. The technology company reported $2.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.25, Briefing.com reports. The firm had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.80 earnings per share. Check Point Software Technologies updated its Q4 guidance to $2.60-2.70 EPS.

Check Point Software Technologies Stock Down 2.2 %

Shares of CHKP stock traded down $3.98 during trading hours on Wednesday, reaching $173.89. The company’s stock had a trading volume of 1,291,331 shares, compared to its average volume of 692,642. The firm’s 50 day simple moving average is $195.21 and its 200-day simple moving average is $174.67. The company has a market capitalization of $19.12 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 3.17 and a beta of 0.62. Check Point Software Technologies has a fifty-two week low of $129.13 and a fifty-two week high of $210.70.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Scotiabank increased their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $187.00 target price on shares of Check Point Software Technologies in a research note on Wednesday. Jefferies Financial Group increased their target price on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Robert W. Baird lowered their target price on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Sixteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and an average target price of $197.74.

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.