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

Check Point Software Technologies (NASDAQ:CHKP) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 8.700-9.300 for the period, compared to the consensus earnings per share estimate of 9.080. The company issued revenue guidance of $2.5 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion. Check Point Software Technologies also updated its Q3 2024 guidance to 2.190-2.290 EPS.

Check Point Software Technologies Trading Up 0.9 %

Shares of CHKP traded up $1.57 during mid-day trading on Friday, reaching $182.74. The company had a trading volume of 638,013 shares, compared to its average volume of 756,486. The stock has a market cap of $20.63 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 2.86 and a beta of 0.62. The firm has a fifty day simple moving average of $161.86 and a 200-day simple moving average of $160.27. Check Point Software Technologies has a fifty-two week low of $125.68 and a fifty-two week high of $184.67.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. The company had revenue of $627.40 million for the quarter, compared to analyst estimates of $623.19 million. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. Check Point Software Technologies’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $1.74 EPS. As a group, equities analysts predict that Check Point Software Technologies will post 7.79 EPS for the current fiscal year.

Analysts Set New Price Targets

CHKP has been the topic of several recent research reports. KeyCorp upgraded shares of Check Point Software Technologies to a hold rating in a report on Tuesday, May 14th. Royal Bank of Canada lifted their target price on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the company a sector perform rating in a report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Check Point Software Technologies from $175.00 to $180.00 and gave the company a neutral rating in a report on Thursday. Needham & Company LLC restated a hold rating on shares of Check Point Software Technologies in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a hold rating in a research note on Thursday. Fifteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $183.68.

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.