Check Point Software Technologies (NASDAQ:CHKP) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Check Point Software Technologies (NASDAQ:CHKP) released its earnings results on Wednesday. The technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01, RTT News reports. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The business had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. During the same quarter last year, the company earned $1.74 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. Check Point Software Technologies updated its Q3 guidance to $2.19-2.29 EPS.

Check Point Software Technologies Stock Up 0.9 %

Shares of NASDAQ CHKP opened at $182.74 on Friday. The company’s fifty day moving average is $161.86 and its 200-day moving average is $160.22. The stock has a market cap of $20.63 billion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 2.86 and a beta of 0.62. Check Point Software Technologies has a twelve month low of $125.68 and a twelve month high of $184.67.

Analyst Ratings Changes

A number of brokerages have commented on CHKP. Scotiabank raised 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 research note on Thursday. Stifel Nicolaus cut their price target on shares of Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Royal Bank of Canada raised their price target on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Check Point Software Technologies from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Susquehanna raised their price objective on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a report on Thursday. Fifteen 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.com, Check Point Software Technologies presently has an average rating of “Hold” and an average 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.