Analysts Anticipate Check Point Software Technologies Ltd. (CHKP) Will Announce Quarterly Sales of $449.39 Million
Brokerages expect Check Point Software Technologies Ltd. (NASDAQ:CHKP) to post $449.39 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Check Point Software Technologies’ earnings. The highest sales estimate is $457.90 million and the lowest is $439.21 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 business is expected to announce its next quarterly earnings report 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 financial year, with estimates ranging from $1.85 billion to $1.88 billion. For the next year, analysts expect that the company will post sales of $2.00 billion per share, with estimates ranging from $1.97 billion to $2.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts 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 Thomson Reuters’ consensus estimate of $1.22 by $0.04. The company had revenue of $458.60 million for the quarter, compared to analysts’ expectations of $454.62 million. Check Point Software Technologies had a return on equity of 22.02% and a net margin of 42.17%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share.
Several equities analysts recently weighed in on the stock. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $128.00 price objective on shares of Check Point Software Technologies in a report on Monday. Northland Securities reaffirmed a “hold” rating and set a $120.00 target price on shares of Check Point Software Technologies in a report on Thursday, September 28th. Cowen and Company reaffirmed a “buy” rating and set a $113.00 target price on shares of Check Point Software Technologies in a report on Friday, September 8th. Credit Suisse Group assumed coverage on shares of Check Point Software Technologies in a research report on Tuesday, September 5th. They set a “neutral” rating and a $110.00 target price for the company. Finally, 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 report on Friday, August 25th. Seventeen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $110.64.
A number of large investors have recently added to or reduced their stakes in CHKP. Massachusetts Financial Services Co. MA grew its stake in shares of Check Point Software Technologies by 1.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,349,727 shares of the technology company’s stock worth $1,267,823,000 after acquiring an additional 229,321 shares in the last quarter. Harding Loevner LP raised its holdings in shares of Check Point Software Technologies by 5.2% in the second quarter. Harding Loevner LP now owns 5,856,093 shares of the technology company’s stock valued at $638,783,000 after purchasing an additional 290,232 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Check Point Software Technologies by 1,778.0% in the first quarter. BlackRock Inc. now owns 5,160,771 shares of the technology company’s stock valued at $529,804,000 after purchasing an additional 4,885,975 shares during the last quarter. Veritas Asset Management LLP acquired a new stake in shares of Check Point Software Technologies in the second quarter valued at approximately $482,664,000. Finally, FMR LLC raised its holdings in shares of Check Point Software Technologies by 13.5% in the second quarter. FMR LLC now owns 3,528,750 shares of the technology company’s stock valued at $384,916,000 after purchasing an additional 420,853 shares during the last quarter. 67.82% of the stock is owned by hedge funds and other institutional investors.
Shares of Check Point Software Technologies (NASDAQ:CHKP) opened at 115.84 on Wednesday. The firm has a market cap of $18.92 billion, a P/E ratio of 25.70 and a beta of 0.72. The stock’s 50 day moving average price is $111.03 and its 200-day moving average price is $108.63. Check Point Software Technologies has a 12 month low of $74.34 and a 12 month high of $116.68.
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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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