Check Point Software Technologies (NASDAQ:CHKP) Releases Q2 2024 Earnings Guidance

Check Point Software Technologies (NASDAQ:CHKP) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 2.100-2.200 for the period. The company issued revenue guidance of $607.0 million-$637.0 million.

Check Point Software Technologies Trading Down 1.1 %

Shares of NASDAQ CHKP traded down $1.75 during trading hours on Friday, hitting $151.20. 1,275,456 shares of the company traded hands, compared to its average volume of 732,373. The company’s 50 day moving average price is $161.41 and its 200 day moving average price is $152.89. The stock has a market capitalization of $18.26 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 2.61 and a beta of 0.61. Check Point Software Technologies has a 12 month low of $117.18 and a 12 month high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, meeting the consensus estimate of $1.72. The company had revenue of $598.80 million for the quarter, compared to the consensus estimate of $595.28 million. Check Point Software Technologies had a return on equity of 30.81% and a net margin of 34.80%. Equities analysts anticipate that Check Point Software Technologies will post 7.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CHKP. TD Cowen upped their price objective on Check Point Software Technologies from $180.00 to $205.00 and gave the company an outperform rating in a research report on Monday, March 18th. Wells Fargo & Company upped their target price on Check Point Software Technologies from $132.00 to $162.00 and gave the stock an equal weight rating in a report on Monday, January 29th. Susquehanna upped their target price on Check Point Software Technologies from $190.00 to $200.00 and gave the stock a positive rating in a report on Wednesday, February 7th. Scotiabank upped their target price on Check Point Software Technologies from $170.00 to $180.00 and gave the stock a sector outperform rating in a report on Wednesday, February 7th. Finally, Stifel Nicolaus lowered their price target on Check Point Software Technologies from $170.00 to $165.00 and set a hold rating for the company in a report on Friday. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $164.00.

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.