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

Check Point Software Technologies (NASDAQ:CHKP) announced its quarterly earnings results on Wednesday. The technology company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01, RTT News reports. The company had revenue of $627.40 million for 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 31.59%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm 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

Shares of NASDAQ:CHKP opened at $182.74 on Friday. The company’s 50-day moving average price is $161.86 and its two-hundred day moving average price is $160.22. Check Point Software Technologies has a one year low of $125.68 and a one year high of $184.67. The stock has a market capitalization of $20.63 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 2.86 and a beta of 0.62.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CHKP shares. KeyCorp raised shares of Check Point Software Technologies to a “hold” rating in a research report on Tuesday, May 14th. Wedbush lifted their price target on shares of Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, Scotiabank lifted their price target 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. Fifteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.