Wedbush Analysts Lift Earnings Estimates for Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Check Point Software Technologies Ltd. (NASDAQ:CHKP) – Research analysts at Wedbush upped their Q3 2024 EPS estimates for shares of Check Point Software Technologies in a note issued to investors on Thursday, July 25th. Wedbush analyst D. Ives now forecasts that the technology company will post earnings of $1.92 per share for the quarter, up from their previous forecast of $1.91. Wedbush currently has a “Outperform” rating and a $200.00 target price on the stock. The consensus estimate for Check Point Software Technologies’ current full-year earnings is $7.80 per share.

A number of other brokerages have also recently weighed in on CHKP. Royal Bank of Canada upped their price target on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Barclays upped their price target on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. BMO Capital Markets boosted 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 report on Thursday, July 25th. Finally, Susquehanna boosted their price objective on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a report on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $183.68.

Check Point Software Technologies Trading Down 0.5 %

Shares of Check Point Software Technologies stock opened at $182.43 on Monday. The company has a fifty day moving average price of $163.11 and a 200 day moving average price of $160.66. Check Point Software Technologies has a twelve month low of $125.68 and a twelve month high of $186.75. The stock has a market cap of $20.60 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 2.87 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates 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 during 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 firm’s revenue was up 6.6% on a year-over-year basis.

Institutional Investors Weigh In On Check Point Software Technologies

Institutional investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Check Point Software Technologies during the second quarter worth about $30,000. Concord Wealth Partners acquired a new stake in Check Point Software Technologies during the first quarter worth about $31,000. Richardson Financial Services Inc. acquired a new stake in Check Point Software Technologies during the fourth quarter worth about $33,000. Y.D. More Investments Ltd raised its stake in Check Point Software Technologies by 37.0% during the fourth quarter. Y.D. More Investments Ltd now owns 500 shares of the technology company’s stock worth $76,000 after acquiring an additional 135 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Check Point Software Technologies during the fourth quarter worth about $92,000. Institutional investors and hedge funds own 87.62% 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 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.