Check Point Software Technologies (NASDAQ:CHKP) Issues Q2 2024 Earnings Guidance

Check Point Software Technologies (NASDAQ:CHKP) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 2.100-2.200 for the period. The company issued revenue guidance of $607.0 million-$637.0 million.

Check Point Software Technologies Stock Down 1.1 %

NASDAQ:CHKP traded down $1.75 during mid-day trading on Friday, reaching $151.20. The company’s stock had a trading volume of 1,275,456 shares, compared to its average volume of 732,373. Check Point Software Technologies has a 1 year low of $117.18 and a 1 year high of $168.82. The stock has a fifty day moving average of $161.64 and a 200-day moving average of $152.78. The firm has a market capitalization of $18.26 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 2.61 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Thursday, April 25th. The technology company reported $1.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.72. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. The company had revenue of $598.80 million for the quarter, compared to analyst estimates of $595.28 million. On average, analysts expect that Check Point Software Technologies will post 7.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CHKP. Barclays upped their price target on Check Point Software Technologies from $170.00 to $175.00 and gave the stock an equal weight rating in a research report on Friday. Citigroup upped their target price on Check Point Software Technologies from $140.00 to $155.00 and gave the company a neutral rating in a research report on Wednesday, January 10th. Scotiabank lifted their price target on Check Point Software Technologies from $170.00 to $180.00 and gave the stock a sector outperform rating in a research report on Wednesday, February 7th. Needham & Company LLC reiterated a hold rating on shares of Check Point Software Technologies in a research report on Friday. Finally, Mizuho reissued a neutral rating and set a $160.00 target price on shares of Check Point Software Technologies in a report on Wednesday, March 27th. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Check Point Software Technologies has a consensus rating of Hold and a consensus price target of $164.00.

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.