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 Price Performance

NASDAQ:CHKP traded up $1.57 during mid-day trading on Friday, hitting $182.74. 638,013 shares of the company’s stock were exchanged, compared to its average volume of 756,486. Check Point Software Technologies has a one year low of $125.68 and a one year high of $184.67. The business has a fifty day moving average price of $161.86 and a 200 day moving average price of $160.27. The company has a market cap 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 (NASDAQ:CHKP) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.16 by $0.01. The business 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 quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.74 earnings per share. On average, equities analysts forecast that Check Point Software Technologies will post 7.79 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on CHKP shares. Wedbush upped their target price on shares of Check Point Software Technologies from $185.00 to $200.00 and gave the company an outperform rating in a report on Thursday. JPMorgan Chase & Co. upped 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. Barclays upped their target price on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the company an equal weight rating in a report on Thursday. Robert W. Baird upped their price target on shares of Check Point Software Technologies from $168.00 to $200.00 and gave the stock a neutral rating in a research report on Thursday. Finally, KeyCorp upgraded shares of Check Point Software Technologies to a hold rating in a research report on Tuesday, May 14th. Fifteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Check Point Software Technologies currently has an average rating of Hold and a consensus price target 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.