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

Check Point Software Technologies (NASDAQ:CHKP) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $2.60-2.70 for the period, compared to the consensus earnings per share 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 1.5 %

NASDAQ CHKP traded down $2.69 on Wednesday, reaching $175.18. The stock had a trading volume of 768,010 shares, compared to its average volume of 690,151. The stock has a fifty day moving average price of $195.52 and a two-hundred day moving average price of $174.67. Check Point Software Technologies has a 12-month low of $129.13 and a 12-month high of $210.70. The firm has a market capitalization of $19.27 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 3.17 and a beta of 0.62.

Wall Street Analysts Forecast Growth

CHKP has been the topic of several research reports. Jefferies Financial Group increased their target price on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. BMO Capital Markets raised their price objective on shares of 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. Wedbush upped their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Scotiabank upped their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 25th. Sixteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and an average target price 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.