Check Point Software Technologies (NASDAQ:CHKP) Issues Q4 2024 Earnings Guidance

Check Point Software Technologies (NASDAQ:CHKP) issued an update on its fourth quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.600-2.700 for the period, compared to the consensus earnings per share estimate of 2.650. The company issued revenue guidance of $675.0 million-$715.0 million, compared to the consensus revenue estimate of $698.6 million. Check Point Software Technologies also updated its FY 2024 guidance to 9.050-9.150 EPS.

Analysts Set New Price Targets

A number of analysts have weighed in on CHKP shares. Barclays cut their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. BMO Capital Markets upped their price objective on 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. Evercore ISI raised their price objective on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a report on Wednesday. Finally, Bank of America lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $205.00 to $195.00 in a report 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 stock currently has a consensus rating of “Hold” and an average target price of $197.74.

Check Point Software Technologies Trading Down 1.6 %

Check Point Software Technologies stock traded down $2.71 during trading on Friday, hitting $170.50. 860,105 shares of the company were exchanged, compared to its average volume of 694,497. The company has a market capitalization of $18.75 billion, a P/E ratio of 23.63, a PEG ratio of 2.71 and a beta of 0.62. The business’s 50 day moving average is $194.87 and its 200 day moving average is $174.66. Check Point Software Technologies has a 52 week low of $134.72 and a 52 week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. During the same quarter in the prior year, the business posted $1.80 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. Equities analysts expect that Check Point Software Technologies will post 7.84 EPS for the current year.

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.