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

Check Point Software Technologies (NASDAQ:CHKP) announced its earnings results on Tuesday. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.25, Briefing.com reports. The business had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. Check Point Software Technologies’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $1.80 EPS. Check Point Software Technologies updated its Q4 guidance to $2.60-2.70 EPS.

Check Point Software Technologies Price Performance

Shares of CHKP traded down $3.98 during trading hours on Wednesday, hitting $173.89. The stock had a trading volume of 1,291,331 shares, compared to its average volume of 692,642. The firm has a 50 day simple moving average of $195.21 and a 200-day simple moving average of $174.67. The firm has a market capitalization of $19.12 billion, a P/E ratio of 24.02, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62. Check Point Software Technologies has a 1-year low of $129.13 and a 1-year high of $210.70.

Analysts Set New Price Targets

Several research analysts recently issued reports on CHKP shares. Wedbush raised their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Susquehanna raised their target price on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research report on Thursday, July 25th. Evercore ISI raised their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Wednesday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $187.00 target price on shares of Check Point Software Technologies in a research report on Wednesday. Sixteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $197.74.

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.