Analysts expect that Check Point Software Technologies Ltd. (NASDAQ:CHKP) will announce sales of $449.39 million for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Check Point Software Technologies’ earnings. The lowest sales estimate is $439.21 million and the highest is $457.90 million. Check Point Software Technologies reported sales of $427.57 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.1%. The firm is expected to report its next quarterly earnings results on Monday, October 30th.

According to Zacks, analysts expect that Check Point Software Technologies will report full year sales of $449.39 million for the current year, with estimates ranging from $1.85 billion to $1.88 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.00 billion per share, with estimates ranging from $1.97 billion to $2.03 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Check Point Software Technologies.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Thursday, July 20th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.04. Check Point Software Technologies had a net margin of 42.17% and a return on equity of 22.02%. The company had revenue of $458.60 million during the quarter, compared to the consensus estimate of $454.62 million. During the same period last year, the firm earned $1.09 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis.

Several research analysts have recently issued reports on CHKP shares. BidaskClub cut shares of Check Point Software Technologies from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Piper Jaffray Companies set a $108.00 target price on shares of Check Point Software Technologies and gave the company a “hold” rating in a research note on Friday, August 25th. Cowen and Company reissued a “buy” rating and set a $113.00 target price on shares of Check Point Software Technologies in a research note on Friday, September 8th. Citigroup Inc. increased their target price on shares of Check Point Software Technologies from $109.00 to $111.00 and gave the company a “neutral” rating in a research note on Thursday, May 25th. Finally, Evercore ISI set a $100.00 target price on shares of Check Point Software Technologies and gave the company a “hold” rating in a research note on Friday, August 11th. Seventeen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $110.64.

Shares of Check Point Software Technologies (CHKP) traded up 0.21% on Friday, hitting $113.00. The company had a trading volume of 986,931 shares. The company has a 50-day moving average of $108.86 and a 200 day moving average of $107.39. Check Point Software Technologies has a 12 month low of $74.34 and a 12 month high of $116.63. The stock has a market cap of $18.46 billion, a PE ratio of 25.07 and a beta of 0.73.

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Several hedge funds have recently made changes to their positions in CHKP. BlackRock Inc. raised its position in Check Point Software Technologies by 1,778.0% during the first quarter. BlackRock Inc. now owns 5,160,771 shares of the technology company’s stock worth $529,804,000 after acquiring an additional 4,885,975 shares in the last quarter. Veritas Asset Management LLP acquired a new position in shares of Check Point Software Technologies in the second quarter valued at $482,664,000. BT Investment Management Ltd acquired a new position in shares of Check Point Software Technologies in the second quarter valued at $165,866,000. Koch Industries Inc. increased its holdings in shares of Check Point Software Technologies by 41,297.0% in the second quarter. Koch Industries Inc. now owns 1,148,354 shares of the technology company’s stock valued at $1,138,000 after purchasing an additional 1,145,580 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Check Point Software Technologies by 336.7% in the second quarter. Janus Henderson Group PLC now owns 1,152,428 shares of the technology company’s stock valued at $125,709,000 after purchasing an additional 888,530 shares during the last quarter. 67.82% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

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