Check Point Software Technologies (NASDAQ:CHKP) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Check Point Software Technologies (NASDAQ:CHKPGet Free Report) released its quarterly earnings data on Tuesday. The technology company reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.10, MarketWatch Earnings reports. Check Point Software Technologies had a return on equity of 30.88% and a net margin of 36.03%. The company had revenue of $663.50 million for the quarter, compared to analyst estimates of $662.09 million. During the same period in the previous year, the company posted $2.23 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Check Point Software Technologies updated its Q1 guidance to $1.95-$2.05 EPS and its FY24 guidance to $8.70-$9.30 EPS.

Check Point Software Technologies Price Performance

CHKP opened at $162.45 on Wednesday. The business has a 50 day simple moving average of $153.22 and a two-hundred day simple moving average of $141.38. The firm has a market capitalization of $19.01 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 2.69 and a beta of 0.62. Check Point Software Technologies has a one year low of $117.18 and a one year high of $166.71.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Susquehanna assumed coverage on Check Point Software Technologies in a research report on Friday, December 15th. They set a “positive” rating for the company. William Blair upgraded Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. UBS Group upped their price objective on Check Point Software Technologies from $140.00 to $170.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Truist Financial upped their price objective on Check Point Software Technologies from $140.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. upped their price objective on Check Point Software Technologies from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $144.85.

Get Our Latest Research Report on Check Point Software Technologies

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Resurgent Financial Advisors LLC bought a new position in shares of Check Point Software Technologies in the 4th quarter worth approximately $28,000. Providence Capital Advisors LLC bought a new position in shares of Check Point Software Technologies in the 1st quarter worth approximately $60,000. Brown Brothers Harriman & Co. raised its position in shares of Check Point Software Technologies by 75.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 568 shares of the technology company’s stock worth $79,000 after acquiring an additional 244 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in shares of Check Point Software Technologies in the 2nd quarter worth approximately $88,000. Finally, State of Wyoming raised its position in shares of Check Point Software Technologies by 1,512.5% in the 2nd quarter. State of Wyoming now owns 903 shares of the technology company’s stock worth $113,000 after acquiring an additional 847 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

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

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