Check Point Software Technologies Ltd. (NASDAQ:CHKP) Expected to Post Q1 2019 Earnings of $1.26 Per Share

Check Point Software Technologies Ltd. (NASDAQ:CHKP) – Piper Jaffray Companies upped their Q1 2019 earnings estimates for Check Point Software Technologies in a research report issued to clients and investors on Wednesday, October 24th, Zacks Investment Research reports. Piper Jaffray Companies analyst A. Nowinski now expects that the technology company will post earnings of $1.26 per share for the quarter, up from their prior estimate of $1.23. Piper Jaffray Companies currently has a “Hold” rating and a $110.00 target price on the stock. Piper Jaffray Companies also issued estimates for Check Point Software Technologies’ Q1 2020 earnings at $1.34 EPS, Q2 2020 earnings at $1.38 EPS, Q3 2020 earnings at $1.42 EPS and FY2020 earnings at $5.84 EPS.

Several other research firms also recently issued reports on CHKP. BidaskClub raised Check Point Software Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 18th. Zacks Investment Research raised Check Point Software Technologies from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a research note on Tuesday, September 25th. Barclays reissued a “hold” rating and issued a $120.00 price target on shares of Check Point Software Technologies in a research note on Thursday, July 26th. Stifel Nicolaus reissued a “hold” rating and issued a $112.00 price target (up previously from $95.00) on shares of Check Point Software Technologies in a research note on Thursday, July 26th. Finally, BMO Capital Markets lifted their price target on Check Point Software Technologies from $108.00 to $130.00 and gave the company a “market perform” rating in a research note on Thursday, July 26th. Eighteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $115.33.

Check Point Software Technologies stock traded up $0.87 during mid-day trading on Monday, hitting $107.99. 871,129 shares of the company’s stock were exchanged, compared to its average volume of 1,175,863. The company has a market capitalization of $17.51 billion, a PE ratio of 22.08, a PEG ratio of 2.13 and a beta of 0.68. Check Point Software Technologies has a fifty-two week low of $93.76 and a fifty-two week high of $120.81.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Wednesday, October 24th. The technology company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.02. The business had revenue of $470.80 million for the quarter, compared to the consensus estimate of $465.94 million. Check Point Software Technologies had a return on equity of 23.04% and a net margin of 43.35%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 EPS.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Martin Investment Management LLC grew its holdings in shares of Check Point Software Technologies by 0.4% in the 2nd quarter. Martin Investment Management LLC now owns 117,502 shares of the technology company’s stock valued at $11,478,000 after acquiring an additional 459 shares in the last quarter. Hugh Johnson Advisors LLC grew its holdings in shares of Check Point Software Technologies by 0.6% in the 2nd quarter. Hugh Johnson Advisors LLC now owns 77,225 shares of the technology company’s stock valued at $7,543,000 after acquiring an additional 485 shares in the last quarter. Fulton Bank N.A. grew its holdings in Check Point Software Technologies by 11.7% during the second quarter. Fulton Bank N.A. now owns 4,706 shares of the technology company’s stock worth $460,000 after purchasing an additional 494 shares during the period. Tower Bridge Advisors grew its holdings in Check Point Software Technologies by 0.9% during the second quarter. Tower Bridge Advisors now owns 58,181 shares of the technology company’s stock worth $5,683,000 after purchasing an additional 500 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Check Point Software Technologies by 3.0% during the second quarter. CIBC Asset Management Inc now owns 18,062 shares of the technology company’s stock worth $1,764,000 after purchasing an additional 518 shares during the period. Institutional investors own 64.41% of the company’s stock.

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 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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