Check Point Software Technologies (NASDAQ:CHKP) Releases Earnings Results, Hits Expectations

Check Point Software Technologies (NASDAQ:CHKP) released its quarterly earnings results on Tuesday. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25, Briefing.com reports. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same period last year, the firm earned $1.80 earnings per share. Check Point Software Technologies’s revenue for the quarter was up 6.5% compared to the same quarter last year. Check Point Software Technologies updated its Q4 guidance to $2.60-2.70 EPS.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $173.21 on Friday. The business has a 50-day moving average of $194.87 and a two-hundred day moving average of $174.66. Check Point Software Technologies has a fifty-two week low of $129.13 and a fifty-two week high of $210.70. The stock has a market capitalization of $19.05 billion, a P/E ratio of 23.66, a P/E/G ratio of 2.71 and a beta of 0.62.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and set a $187.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday. Scotiabank upped their target price on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 25th. Truist Financial upped their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. BMO Capital Markets increased their target price on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Finally, Susquehanna upped their target price on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a report on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.