Check Point Software Technologies (NASDAQ:CHKP) Posts Quarterly Earnings Results, Meets Expectations

Check Point Software Technologies (NASDAQ:CHKP) released its quarterly earnings data on Tuesday. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25, Briefing.com reports. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The firm had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. During the same quarter in the previous year, the firm earned $1.80 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. Check Point Software Technologies updated its Q4 guidance to $2.60-2.70 EPS.

Check Point Software Technologies Stock Performance

CHKP opened at $173.21 on Friday. The firm’s 50-day simple moving average is $194.87 and its 200-day simple moving average is $174.66. The firm has a market cap of $19.05 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 2.71 and a beta of 0.62. Check Point Software Technologies has a twelve month low of $129.13 and a twelve month high of $210.70.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday. BMO Capital Markets increased their price objective on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $187.00 target price on shares of Check Point Software Technologies in a research note on Wednesday. Barclays decreased their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Evercore ISI lifted their price objective on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research report on Wednesday. Fifteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $197.74.

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.