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 (EPS) guidance of 2.190-2.290 for the period, compared to the consensus 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.

Check Point Software Technologies Trading Up 0.9 %

NASDAQ CHKP traded up $1.57 on Friday, hitting $182.74. 638,013 shares of the company’s stock traded hands, compared to its average volume of 756,486. The firm’s 50-day moving average price is $161.86 and its two-hundred day moving average price is $160.22. The firm has a market capitalization of $20.63 billion, a PE ratio of 25.38, a P/E/G ratio of 2.86 and a beta of 0.62. Check Point Software Technologies has a 1-year low of $125.68 and a 1-year high of $184.67.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on CHKP. Barclays raised their target price on Check Point Software Technologies from $175.00 to $192.00 and gave the stock an equal weight rating in a report on Thursday. Truist Financial reaffirmed a buy rating and set a $200.00 target price (up from $175.00) on shares of Check Point Software Technologies in a report on Thursday. Scotiabank increased their price target on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a sector outperform rating in a report on Thursday. Stifel Nicolaus cut their price objective on shares of Check Point Software Technologies from $170.00 to $165.00 and set a hold rating for the company in a report on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft upped 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 research report on Thursday. Fifteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $183.68.

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.