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

Check Point Software Technologies (NASDAQ:CHKP) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 8.700-9.300 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays lifted their target price on Check Point Software Technologies from $175.00 to $192.00 and gave the stock an equal weight rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on Check Point Software Technologies from $175.00 to $180.00 and gave the stock a neutral rating in a research note on Thursday. Truist Financial restated a buy rating and issued a $200.00 price target (up from $175.00) on shares of Check Point Software Technologies in a research note on Thursday. Needham & Company LLC restated a hold rating on shares of Check Point Software Technologies in a research note on Thursday. Finally, Wedbush boosted their price target on Check Point Software Technologies from $185.00 to $200.00 and gave the company an outperform rating in a research note on Thursday. Fifteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies presently has a consensus rating of Hold and an average target price of $183.68.

Check Point Software Technologies Trading Up 0.9 %

CHKP traded up $1.57 on Friday, reaching $182.74. The stock had a trading volume of 637,996 shares, compared to its average volume of 713,493. Check Point Software Technologies has a fifty-two week low of $125.68 and a fifty-two week high of $184.67. The firm has a 50-day moving average of $161.23 and a 200-day moving average of $160.01. The company has a market capitalization of $20.63 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 2.84 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. The business had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. Check Point Software Technologies had a return on equity of 31.70% and a net margin of 33.61%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.74 EPS. Sell-side analysts anticipate that Check Point Software Technologies will post 7.79 EPS 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.