Check Point Software Technologies (NASDAQ:CHKP) Issues Earnings Results

Check Point Software Technologies (NASDAQ:CHKP) released its earnings results on Tuesday. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.25, Briefing.com reports. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The company had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. During the same quarter in the prior year, the firm earned $1.80 EPS. The company’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 Price Performance

CHKP stock opened at $173.89 on Thursday. The stock has a market capitalization of $19.12 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 3.17 and a beta of 0.62. The business’s fifty day moving average price is $195.21 and its two-hundred day moving average price is $174.67. Check Point Software Technologies has a fifty-two week low of $129.13 and a fifty-two week high of $210.70.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CHKP. Jefferies Financial Group raised their target price on shares of 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. Susquehanna boosted their target price on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a research note on Thursday, July 25th. Truist Financial upped their price target on Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. BMO Capital Markets upped their price target 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. Finally, Barclays lowered their target price on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a research note on Tuesday. Fifteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Check Point Software Technologies currently has a consensus rating of “Hold” and a consensus price target 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.