Check Point Software Technologies (NASDAQ:CHKP) Releases Q3 2024 Earnings Guidance

Check Point Software Technologies (NASDAQ:CHKP) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 2.190-2.290 for the period, compared to the consensus EPS estimate of 2.250. The company issued revenue guidance of $615.0 million-$650.0 million, compared to the consensus revenue estimate of $634.8 million. Check Point Software Technologies also updated its FY 2024 guidance to 8.700-9.300 EPS.

Analyst Ratings Changes

Several brokerages have recently weighed in on CHKP. BMO Capital Markets increased their price objective on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a market perform rating in a research note on Thursday. Scotiabank lifted their price target on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a sector outperform rating in a research note on Thursday. Royal Bank of Canada upped their price objective on Check Point Software Technologies from $165.00 to $187.00 and gave the stock a sector perform rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on Check Point Software Technologies from $175.00 to $180.00 and gave the company a neutral rating in a research report on Thursday. Finally, Stifel Nicolaus reduced their price target on Check Point Software Technologies from $170.00 to $165.00 and set a hold rating for the company in a research report on Friday, April 26th. Fifteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Check Point Software Technologies has a consensus rating of Hold and an average price target of $183.68.

Check Point Software Technologies Stock Up 0.9 %

NASDAQ CHKP traded up $1.57 during trading on Friday, hitting $182.74. 638,013 shares of the stock traded hands, compared to its average volume of 756,486. Check Point Software Technologies has a 12-month low of $125.68 and a 12-month high of $184.67. The firm has a 50-day simple moving average of $161.86 and a 200-day simple moving average of $160.27. The company has a market capitalization of $20.63 billion, a P/E ratio of 25.38, a price-to-earnings-growth ratio of 2.89 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The firm had revenue of $627.40 million for the quarter, compared to analysts’ expectations of $623.19 million. During the same period in the prior year, the company earned $1.74 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts predict that Check Point Software Technologies will post 7.8 EPS for the current fiscal year.

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.