Wall Street analysts forecast that Check Point Software Technologies Ltd. (NASDAQ:CHKP) will announce sales of $466.43 million for the current quarter, Zacks reports. Eleven analysts have issued estimates for Check Point Software Technologies’ earnings, with the highest sales estimate coming in at $472.60 million and the lowest estimate coming in at $463.80 million. Check Point Software Technologies reported sales of $454.63 million in the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The company is expected to issue its next earnings results on Tuesday, October 30th.

On average, analysts expect that Check Point Software Technologies will report full-year sales of $1.90 billion for the current fiscal year, with estimates ranging from $1.89 billion to $1.91 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.98 billion, with estimates ranging from $1.94 billion to $2.00 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Check Point Software Technologies.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, July 25th. The technology company reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.18. Check Point Software Technologies had a net margin of 43.43% and a return on equity of 22.98%. The firm had revenue of $467.80 million during the quarter, compared to analysts’ expectations of $461.32 million. During the same period last year, the company posted $1.26 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year.

CHKP has been the subject of a number of recent research reports. OTR Global raised shares of Check Point Software Technologies to a “positive” rating in a research report on Friday, July 6th. BidaskClub raised shares of Check Point Software Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 14th. Zacks Investment Research cut shares of Check Point Software Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Evercore ISI reissued a “hold” rating and set a $100.00 price target on shares of Check Point Software Technologies in a research report on Thursday, July 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Check Point Software Technologies to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 25th. Twenty-one research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $114.48.

A number of institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new stake in shares of Check Point Software Technologies in the second quarter worth approximately $105,000. Fort L.P. bought a new stake in shares of Check Point Software Technologies in the second quarter worth approximately $120,000. Signaturefd LLC bought a new stake in shares of Check Point Software Technologies in the first quarter worth approximately $127,000. Legacy Financial Advisors Inc. grew its stake in shares of Check Point Software Technologies by 1,650.0% in the second quarter. Legacy Financial Advisors Inc. now owns 1,645 shares of the technology company’s stock worth $180,000 after acquiring an additional 1,551 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Check Point Software Technologies by 50.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,692 shares of the technology company’s stock worth $165,000 after acquiring an additional 566 shares during the period. 66.72% of the stock is owned by institutional investors and hedge funds.

NASDAQ CHKP traded down $0.32 during trading hours on Tuesday, reaching $118.16. 857,500 shares of the company’s stock traded hands, compared to its average volume of 1,263,983. Check Point Software Technologies has a 52-week low of $93.76 and a 52-week high of $120.81. The stock has a market cap of $19.25 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 2.35 and a beta of 0.63.

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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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