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

by · The Markets Daily

Check Point Software Technologies (NASDAQ:CHKP – Get Free Report) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $2.60-2.70 for the period, compared to the consensus EPS estimate of $2.65. The company issued revenue guidance of $675-715 million, compared to the consensus revenue estimate of $701.63 million.

Check Point Software Technologies Stock Down 0.4 %

Check Point Software Technologies stock traded down $0.68 during midday trading on Thursday, reaching $173.21. 917,512 shares of the stock traded hands, compared to its average volume of 693,712. The stock’s fifty day moving average is $195.21 and its 200-day moving average is $174.67. Check Point Software Technologies has a 12 month low of $129.13 and a 12 month high of $210.70. The stock has a market cap of $19.05 billion, a P/E ratio of 23.91, a PEG ratio of 3.17 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.25. 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 during the quarter, compared to analyst estimates of $634.96 million. During the same period last year, the company earned $1.80 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts predict that Check Point Software Technologies will post 7.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. BMO Capital Markets raised their price objective on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Bank of America downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and cut their price target for the company from $205.00 to $195.00 in a report on Wednesday. Wedbush lifted their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $187.00 price target on shares of Check Point Software Technologies in a report on Wednesday. Finally, Scotiabank lifted their price target on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a report on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $197.74.

Check Out Our Latest Report on CHKP

About Check Point Software Technologies

(Get Free Report)

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.

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