Check Point Software Technologies (NASDAQ:CHKP) Updates Q4 2024 Earnings Guidance

Check Point Software Technologies (NASDAQ:CHKP) issued an update on its fourth quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.600-2.700 for the period, compared to the consensus earnings per share estimate of 2.650. The company issued revenue guidance of $675.0 million-$715.0 million, compared to the consensus revenue estimate of $698.6 million. Check Point Software Technologies also updated its FY 2024 guidance to 9.050-9.150 EPS.

Check Point Software Technologies Stock Down 0.3 %

Shares of CHKP opened at $170.00 on Monday. The stock has a market capitalization of $18.70 billion, a P/E ratio of 23.29, a PEG ratio of 2.96 and a beta of 0.63. The firm has a fifty day simple moving average of $194.47 and a two-hundred day simple moving average of $174.99. Check Point Software Technologies has a twelve month low of $136.19 and a twelve month high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting the consensus estimate of $2.25. The business had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.80 EPS. Sell-side analysts expect that Check Point Software Technologies will post 7.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CHKP shares. Robert W. Baird dropped their target price on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. BMO Capital Markets raised their target price on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Wedbush raised 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 report on Wednesday, October 9th. Finally, Evercore ISI increased their price target on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $197.74.

Check Point Software Technologies Company Profile

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.