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

Check Point Software Technologies (NASDAQ:CHKP) posted its quarterly earnings data on Tuesday. The technology company reported $2.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.25, Briefing.com reports. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The company had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. During the same period last year, the firm earned $1.80 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Check Point Software Technologies updated its Q4 guidance to $2.60-2.70 EPS.

Check Point Software Technologies Stock Down 2.2 %

Shares of CHKP stock traded down $3.98 during mid-day trading on Wednesday, hitting $173.89. 1,291,331 shares of the company’s stock were exchanged, compared to its average volume of 692,642. Check Point Software Technologies has a fifty-two week low of $129.13 and a fifty-two week high of $210.70. The stock has a 50-day simple moving average of $195.52 and a two-hundred day simple moving average of $174.67. The stock has a market cap of $19.12 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 3.17 and a beta of 0.62.

Analyst Upgrades and Downgrades

CHKP has been the subject of a number of analyst reports. Scotiabank increased their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 25th. Barclays cut 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. Mizuho increased their target price on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday. Finally, Evercore ISI increased their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research note on Wednesday. Sixteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Check Point Software Technologies currently has an average rating of “Hold” and a consensus 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.