Check Point Software Technologies (NASDAQ:CHKP) Releases Quarterly Earnings Results, Hits Expectations

Check Point Software Technologies (NASDAQ:CHKP) posted its quarterly earnings data on Tuesday. The technology company reported $2.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.25, Briefing.com reports. The firm had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 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 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.80 EPS. Check Point Software Technologies updated its Q4 guidance to $2.60-2.70 EPS.

Check Point Software Technologies Trading Down 2.2 %

Shares of NASDAQ CHKP traded down $3.98 during trading hours on Wednesday, reaching $173.89. The stock had a trading volume of 1,291,331 shares, compared to its average volume of 692,642. The firm has a market cap of $19.12 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 3.17 and a beta of 0.62. Check Point Software Technologies has a fifty-two week low of $129.13 and a fifty-two week high of $210.70. The firm has a 50-day moving average of $195.52 and a 200-day moving average of $174.67.

Wall Street Analyst Weigh In

CHKP has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a report on Monday. Scotiabank boosted their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group upped their price target on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft upped their price target on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Susquehanna upped their price target on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a report on Thursday, July 25th. Sixteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.