Check Point Software Technologies (NASDAQ:CHKP) Releases Q3 2024 Earnings Guidance

Check Point Software Technologies (NASDAQ:CHKP) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 2.190-2.290 for the period, compared to the consensus estimate of 2.250. The company issued revenue guidance of $615.0 million-$650.0 million, compared to the consensus revenue estimate of $634.8 million. Check Point Software Technologies also updated its FY 2024 guidance to 8.700-9.300 EPS.

Check Point Software Technologies Stock Performance

NASDAQ CHKP traded up $1.57 on Friday, hitting $182.74. The stock had a trading volume of 638,013 shares, compared to its average volume of 756,486. The firm has a 50-day moving average of $161.86 and a 200-day moving average of $160.22. Check Point Software Technologies has a 52-week low of $125.68 and a 52-week high of $184.67. The company has a market capitalization of $20.63 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 2.86 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The business had revenue of $627.40 million for the quarter, compared to analyst estimates of $623.19 million. During the same period in the prior year, the company earned $1.74 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts anticipate that Check Point Software Technologies will post 7.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on CHKP shares. Wedbush increased their price target on shares of Check Point Software Technologies from $185.00 to $200.00 and gave the company an outperform rating in a research report on Thursday. Robert W. Baird lifted their target price 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. Scotiabank upped their price target on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the company a sector outperform rating in a research report on Thursday. Barclays lifted their price objective on Check Point Software Technologies from $175.00 to $192.00 and gave the stock an equal weight rating in a report on Thursday. Finally, Needham & Company LLC restated a hold rating on shares of Check Point Software Technologies in a report on Thursday. Fifteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Check Point Software Technologies has a consensus rating of Hold and a consensus 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.