Check Point Software Technologies (NASDAQ:CHKP) Posts Earnings Results, Beats Estimates By $0.01 EPS

Check Point Software Technologies (NASDAQ:CHKP) posted its quarterly earnings results on Wednesday. The technology company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.01, RTT News reports. The firm had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.70%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.74 earnings per share. Check Point Software Technologies updated its Q3 guidance to $2.19-2.29 EPS.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock traded up $2.14 during midday trading on Friday, hitting $183.31. 356,108 shares of the company were exchanged, compared to its average volume of 711,522. Check Point Software Technologies has a fifty-two week low of $125.68 and a fifty-two week high of $184.67. The company has a market cap of $20.70 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 2.84 and a beta of 0.62. The company’s fifty day moving average price is $161.23 and its 200-day moving average price is $160.01.

Wall Street Analyst Weigh In

CHKP has been the subject of a number of analyst reports. Royal Bank of Canada increased their target price on Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Thursday. Barclays upped their price objective on Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a report on Thursday. Jefferies Financial Group increased their price target on shares of Check Point Software Technologies from $185.00 to $210.00 and gave the company a “buy” rating in a report on Thursday. Finally, KeyCorp raised shares of Check Point Software Technologies to a “hold” rating in a report on Tuesday, May 14th. Fifteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $183.68.

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.