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

Check Point Software Technologies (NASDAQ:CHKP) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.60-2.70 for the period, compared to the consensus estimate of $2.65. The company issued revenue guidance of $675-715 million, compared to the consensus revenue estimate of $701.63 million.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP traded down $0.68 during midday trading on Thursday, hitting $173.21. The company had a trading volume of 917,512 shares, compared to its average volume of 693,712. Check Point Software Technologies has a twelve month low of $129.13 and a twelve month high of $210.70. The stock has a market cap of $19.05 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62. The business’s 50-day simple moving average is $195.21 and its 200-day simple moving average is $174.67.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting the consensus estimate of $2.25. The company had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.80 earnings per share. As a group, sell-side analysts forecast that Check Point Software Technologies will post 7.83 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. BMO Capital Markets increased their price objective on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $205.00 to $195.00 in a research note on Wednesday. Evercore ISI increased their price objective on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Barclays cut their price target on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Fifteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus 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.