Zacks: Analysts Expect Check Point Software Technologies Ltd. (NASDAQ:CHKP) Will Post Quarterly Sales of $542.22 Million

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Equities analysts expect that Check Point Software Technologies Ltd. (NASDAQ:CHKP) will post $542.22 million in sales for the current quarter, according to Zacks Investment Research. Thirteen analysts have made estimates for Check Point Software Technologies’ earnings. The lowest sales estimate is $527.00 million and the highest is $548.70 million. Check Point Software Technologies reported sales of $525.56 million in the same quarter last year, which indicates a positive year over year growth rate of 3.2%. The company is scheduled to report its next quarterly earnings report on Wednesday, January 29th.

On average, analysts expect that Check Point Software Technologies will report full-year sales of $1.99 billion for the current year, with estimates ranging from $1.98 billion to $2.00 billion. For the next year, analysts forecast that the firm will post sales of $2.07 billion, with estimates ranging from $2.03 billion to $2.10 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Check Point Software Technologies.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.04. The firm had revenue of $490.91 million during the quarter, compared to analysts’ expectations of $490.94 million. Check Point Software Technologies had a net margin of 40.05% and a return on equity of 21.86%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.38 earnings per share.

A number of analysts have recently commented on CHKP shares. Barclays cut their price objective on shares of Check Point Software Technologies from $127.00 to $116.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Bank of America lowered shares of Check Point Software Technologies from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $130.00 to $116.00 in a research report on Thursday, September 19th. Piper Jaffray Companies initiated coverage on shares of Check Point Software Technologies in a research report on Friday, November 8th. They set a “neutral” rating and a $117.00 price target on the stock. Jefferies Financial Group lowered shares of Check Point Software Technologies from a “buy” rating to a “hold” rating and dropped their price target for the stock from $140.00 to $115.00 in a research report on Monday, October 7th. Finally, Northland Securities reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Tuesday, October 29th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Check Point Software Technologies has a consensus rating of “Hold” and a consensus price target of $119.25.

Shares of Check Point Software Technologies stock traded down $0.46 on Wednesday, hitting $113.31. The company had a trading volume of 705,833 shares, compared to its average volume of 642,367. The firm has a market capitalization of $17.28 billion, a P/E ratio of 21.71, a P/E/G ratio of 2.42 and a beta of 0.78. Check Point Software Technologies has a twelve month low of $98.57 and a twelve month high of $132.76. The stock has a 50-day moving average of $114.35 and a 200-day moving average of $112.27.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. boosted its holdings in Check Point Software Technologies by 2.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 108,323 shares of the technology company’s stock valued at $13,701,000 after acquiring an additional 2,720 shares during the period. Creative Planning lifted its position in Check Point Software Technologies by 2.9% in the 2nd quarter. Creative Planning now owns 4,165 shares of the technology company’s stock worth $482,000 after buying an additional 116 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Check Point Software Technologies by 92.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 18,198 shares of the technology company’s stock worth $2,104,000 after buying an additional 8,719 shares in the last quarter. KBC Group NV lifted its position in Check Point Software Technologies by 19.4% in the 2nd quarter. KBC Group NV now owns 17,900 shares of the technology company’s stock worth $2,069,000 after buying an additional 2,904 shares in the last quarter. Finally, Highstreet Asset Management Inc. raised its holdings in shares of Check Point Software Technologies by 188.1% during the 2nd quarter. Highstreet Asset Management Inc. now owns 3,722 shares of the technology company’s stock valued at $430,000 after purchasing an additional 2,430 shares in the last quarter. 68.49% of the stock is owned by institutional investors and hedge funds.

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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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