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

Check Point Software Technologies (NASDAQ:CHKP) issued its quarterly earnings results on Wednesday. The technology company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01, RTT News reports. The firm 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%. 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. Check Point Software Technologies updated its Q3 guidance to $2.19-2.29 EPS.

Check Point Software Technologies Stock Up 0.9 %

Shares of CHKP opened at $182.74 on Friday. The stock has a market capitalization of $20.63 billion, a P/E ratio of 25.38, a PEG ratio of 2.86 and a beta of 0.62. The firm has a fifty day simple moving average of $161.86 and a two-hundred day simple moving average of $160.22. Check Point Software Technologies has a twelve month low of $125.68 and a twelve month high of $184.67.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CHKP. Robert W. Baird increased 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 report on Thursday. Barclays increased their price target on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a report on Thursday. Truist Financial reissued a “buy” rating and issued a $200.00 price target (up previously from $175.00) on shares of Check Point Software Technologies in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday. Finally, Wedbush upped their price objective on shares of Check Point Software Technologies from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. Fifteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Check Point Software Technologies currently has a consensus rating of “Hold” and an average target price of $183.68.

About Check Point Software Technologies

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.