Check Point Software Technologies Sees Strong Trading Volume Following Earnings Beat (CHKP)
Shares of Check Point Software Technologies (NASDAQ:CHKP) saw strong trading volume on Wednesday after the company announced better than expected quarterly earnings, AnalystRatingsNetwork reports. 1,329,039 shares were traded during mid-day trading, an increase of 44% from the previous session’s volume of 920,833 shares.The stock last traded at $66.11 and had previously closed at $64.77.
The company reported $0.89 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.87 by $0.02. The company had revenue of $363.00 million for the quarter, compared to the consensus estimate of $359.37 million. During the same quarter in the prior year, the company posted $0.83 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis.
CHKP has been the subject of a number of recent research reports. Analysts at Topeka Capital Markets raised their price target on shares of Check Point Software Technologies from $72.50 to $75.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs initiated coverage on shares of Check Point Software Technologies in a research note on Wednesday, July 16th. They set a “neutral” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, June 27th. They now have a $69.00 price target on the stock. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Check Point Software Technologies currently has a consensus rating of “Buy” and an average price target of $71.50.
The stock has a 50-day moving average of $65.74 and a 200-day moving average of $65.85. The company has a market cap of $12.702 billion and a P/E ratio of 19.49.
Check Point Software Technologies Ltd. (NASDAQ:CHKP) develops technologies to communications and transactions over the Internet by enterprises and consumers.
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