Check Point Software Technologies (NASDAQ:CHKP) Releases Earnings Results, Meets Estimates

Check Point Software Technologies (NASDAQ:CHKP) released its quarterly earnings data on Tuesday. The technology company reported $2.25 earnings per share for the quarter, meeting the consensus estimate of $2.25, Briefing.com reports. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. 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 posted $1.80 earnings per share. Check Point Software Technologies’s revenue 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 Stock Down 2.2 %

Shares of NASDAQ:CHKP opened at $173.89 on Thursday. The stock has a market cap 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 12-month low of $129.13 and a 12-month high of $210.70. The business’s 50 day moving average is $195.21 and its 200 day moving average is $174.67.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays cut their price target on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Jefferies Financial Group lifted their price target on Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Truist Financial lifted their price objective on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Susquehanna lifted their price objective on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $187.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday. Fifteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average 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.