Check Point Software Technologies (NASDAQ:CHKP) Issues 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 9.050-9.150 for the period, compared to the consensus earnings per share estimate of 9.100. 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 Q4 2024 guidance to 2.600-2.700 EPS.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CHKP shares. BMO Capital Markets boosted their price target on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Truist Financial boosted their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group upped their price target on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Susquehanna raised their price target on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $187.00 price target on shares of Check Point Software Technologies in a research note on Wednesday. Fifteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $197.74.

Check Point Software Technologies Trading Down 1.6 %

Check Point Software Technologies stock traded down $2.71 during trading on Friday, hitting $170.50. The company had a trading volume of 860,105 shares, compared to its average volume of 694,497. The company’s 50 day simple moving average is $194.87 and its 200-day simple moving average is $174.66. Check Point Software Technologies has a 1-year low of $134.72 and a 1-year high of $210.70. The stock has a market cap of $18.75 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 2.71 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The company had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. During the same period in the prior year, the firm posted $1.80 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts forecast that Check Point Software Technologies will post 7.84 earnings per share for the current fiscal year.

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.