$487.56 Million in Sales Expected for Check Point Software Technologies Ltd. (NASDAQ:CHKP) This Quarter

Wall Street analysts expect Check Point Software Technologies Ltd. (NASDAQ:CHKP) to post sales of $487.56 million for the current fiscal quarter, according to Zacks. Thirteen analysts have issued estimates for Check Point Software Technologies’ earnings, with the lowest sales estimate coming in at $485.70 million and the highest estimate coming in at $490.40 million. Check Point Software Technologies posted sales of $467.77 million during the same quarter last year, which suggests a positive year over year growth rate of 4.2%. The business is scheduled to issue its next earnings report before the market opens on Wednesday, July 24th.

On average, analysts expect that Check Point Software Technologies will report full-year sales of $1.99 billion for the current financial year, with estimates ranging from $1.90 billion to $2.00 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.08 billion, with estimates ranging from $2.03 billion to $2.11 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Check Point Software Technologies.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Thursday, April 18th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.01. Check Point Software Technologies had a net margin of 42.05% and a return on equity of 22.41%. The company had revenue of $471.83 million for the quarter, compared to analyst estimates of $471.16 million. During the same quarter last year, the firm earned $1.30 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis.

Several research firms recently weighed in on CHKP. BMO Capital Markets reissued an “outperform” rating and set a $125.00 price objective (up previously from $120.00) on shares of Check Point Software Technologies in a research note on Monday, April 22nd. BidaskClub lowered shares of Check Point Software Technologies from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. ValuEngine lowered shares of Check Point Software Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Zacks Investment Research raised shares of Check Point Software Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Finally, OTR Global raised shares of Check Point Software Technologies to a “positive” rating in a research note on Friday, April 12th. Seventeen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Check Point Software Technologies presently has an average rating of “Hold” and a consensus price target of $122.00.

A number of institutional investors and hedge funds have recently made changes to their positions in CHKP. William Blair Investment Management LLC lifted its stake in Check Point Software Technologies by 1,576.6% in the first quarter. William Blair Investment Management LLC now owns 1,651,678 shares of the technology company’s stock valued at $208,921,000 after buying an additional 1,553,162 shares in the last quarter. Norges Bank bought a new position in Check Point Software Technologies in the fourth quarter valued at approximately $125,399,000. BlackRock Inc. lifted its stake in Check Point Software Technologies by 11.7% in the first quarter. BlackRock Inc. now owns 5,824,800 shares of the technology company’s stock valued at $736,781,000 after buying an additional 612,046 shares in the last quarter. Fundsmith LLP bought a new position in Check Point Software Technologies in the fourth quarter valued at approximately $49,177,000. Finally, Acadian Asset Management LLC lifted its stake in Check Point Software Technologies by 26.0% in the first quarter. Acadian Asset Management LLC now owns 1,630,815 shares of the technology company’s stock valued at $206,281,000 after buying an additional 336,148 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies stock opened at $119.56 on Thursday. The business’s 50 day moving average price is $114.43. Check Point Software Technologies has a fifty-two week low of $98.57 and a fifty-two week high of $132.76. The company has a market cap of $18.20 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 2.45 and a beta of 0.78.

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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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Earnings History and Estimates for Check Point Software Technologies (NASDAQ:CHKP)

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