Equities research analysts expect Check Point Software Technologies Ltd. (NASDAQ:CHKP) to post sales of $487.56 million for the current quarter, according to Zacks. Thirteen analysts have issued estimates for Check Point Software Technologies’ earnings, with estimates ranging from $485.70 million to $490.40 million. Check Point Software Technologies reported sales of $467.77 million in the same quarter last year, which indicates a positive year over year growth rate of 4.2%. The business is expected to announce its next earnings results on Wednesday, July 24th.

On average, analysts expect that Check Point Software Technologies will report full year sales of $1.99 billion for the current year, with estimates ranging from $1.90 billion to $2.00 billion. For the next year, analysts forecast that the business will post sales of $2.08 billion, with estimates ranging from $2.03 billion to $2.11 billion. Zacks Investment Research’s sales averages 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 Thursday, April 18th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.01. Check Point Software Technologies had a return on equity of 22.41% and a net margin of 42.05%. The company had revenue of $471.83 million for the quarter, compared to the consensus estimate of $471.16 million. During the same period in the previous year, the business earned $1.30 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis.

CHKP has been the topic of several research analyst reports. BidaskClub cut Check Point Software Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. ValuEngine lowered Check Point Software Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. BMO Capital Markets restated an “outperform” rating and issued a $125.00 target price (up previously from $120.00) on shares of Check Point Software Technologies in a research note on Monday, April 22nd. Barclays raised their target price on Check Point Software Technologies from $120.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Finally, Cowen assumed coverage on Check Point Software Technologies in a research report on Thursday, May 23rd. They set a “market perform” rating and a $120.00 price target on the stock. Seventeen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $122.00.

Shares of CHKP traded down $0.05 during mid-day trading on Tuesday, reaching $112.95. 14,261 shares of the company’s stock traded hands, compared to its average volume of 792,699. The stock has a market cap of $17.16 billion, a price-to-earnings ratio of 21.66, a P/E/G ratio of 2.32 and a beta of 0.80. Check Point Software Technologies has a 12 month low of $95.67 and a 12 month high of $132.76.

Several hedge funds have recently modified their holdings of the company. Oregon Public Employees Retirement Fund grew its holdings in Check Point Software Technologies by 39,495.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,990,827 shares of the technology company’s stock worth $39,000 after acquiring an additional 3,980,748 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Check Point Software Technologies by 1,576.6% in the first quarter. William Blair Investment Management LLC now owns 1,651,678 shares of the technology company’s stock worth $208,921,000 after acquiring an additional 1,553,162 shares in the last quarter. Norges Bank purchased a new position in shares of Check Point Software Technologies in the fourth quarter worth approximately $125,399,000. BlackRock Inc. grew its position in Check Point Software Technologies by 11.7% during the first quarter. BlackRock Inc. now owns 5,824,800 shares of the technology company’s stock valued at $736,781,000 after purchasing an additional 612,046 shares in the last quarter. Finally, Fundsmith LLP purchased a new position in Check Point Software Technologies during the fourth quarter valued at approximately $49,177,000. 71.29% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Check Point Software Technologies (NASDAQ:CHKP)

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