Check Point Software Technologies (NASDAQ:CHKP) Updates Q3 2024 Earnings Guidance

Check Point Software Technologies (NASDAQ:CHKP) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 2.190-2.290 for the period, compared to the consensus earnings per share estimate of 2.250. The company issued revenue guidance of $615.0 million-$650.0 million, compared to the consensus revenue estimate of $634.8 million. Check Point Software Technologies also updated its FY 2024 guidance to 8.700-9.300 EPS.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BMO Capital Markets lifted their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the company a market perform rating in a research report on Thursday. KeyCorp raised Check Point Software Technologies to a hold rating in a research report on Tuesday, May 14th. Stifel Nicolaus lowered their target price on Check Point Software Technologies from $170.00 to $165.00 and set a hold rating on the stock in a research report on Friday, April 26th. JPMorgan Chase & Co. lifted their target price on Check Point Software Technologies from $175.00 to $180.00 and gave the company a neutral rating in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Check Point Software Technologies in a research report on Thursday. Fifteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $183.68.

Check Point Software Technologies Stock Up 0.9 %

CHKP traded up $1.57 during trading on Friday, hitting $182.74. The company’s stock had a trading volume of 638,013 shares, compared to its average volume of 756,486. Check Point Software Technologies has a twelve month low of $125.68 and a twelve month high of $184.67. The stock’s fifty day moving average price is $161.86 and its 200-day moving average price is $160.27. The firm has a market capitalization of $20.63 billion, a P/E ratio of 25.38, a PEG ratio of 2.86 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.16 by $0.01. The firm had revenue of $627.40 million during the quarter, compared to the consensus estimate of $623.19 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.74 earnings per share. Equities research analysts expect that Check Point Software Technologies will post 7.79 EPS for the current fiscal year.

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.