$508.60 Million in Sales Expected for Check Point Software Technologies Ltd. (CHKP) This Quarter

Analysts expect Check Point Software Technologies Ltd. (NASDAQ:CHKP) to announce $508.60 million in sales for the current quarter, Zacks reports. Eleven analysts have made estimates for Check Point Software Technologies’ earnings. The lowest sales estimate is $504.00 million and the highest is $516.67 million. Check Point Software Technologies reported sales of $486.71 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.5%. The company is expected to issue its next earnings report before the market opens on Wednesday, January 31st.

On average, analysts expect that Check Point Software Technologies will report full year sales of $508.60 million for the current financial year, with estimates ranging from $1.85 billion to $1.87 billion. For the next financial year, analysts expect that the business will post sales of $1.98 billion per share, with estimates ranging from $1.95 billion to $2.00 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Check Point Software Technologies.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Tuesday, October 31st. The technology company reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.06. Check Point Software Technologies had a net margin of 42.80% and a return on equity of 22.46%.

Several equities research analysts have commented on CHKP shares. JPMorgan Chase & Co. lowered shares of Check Point Software Technologies from an “overweight” rating to a “neutral” rating and set a $121.00 price objective for the company. in a research note on Tuesday, December 12th. BTIG Research lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 1st. Stifel Nicolaus reiterated a “hold” rating and issued a $100.00 price objective on shares of Check Point Software Technologies in a research note on Friday, November 3rd. Jefferies Group reiterated a “buy” rating and issued a $126.00 price objective on shares of Check Point Software Technologies in a research note on Thursday, October 19th. Finally, Royal Bank of Canada decreased their price objective on shares of Check Point Software Technologies from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $113.89.

Hedge funds have recently modified their holdings of the company. Harding Loevner LP grew its stake in Check Point Software Technologies by 3,559.4% in the 3rd quarter. Harding Loevner LP now owns 214,296,110 shares of the technology company’s stock valued at $495,041,000 after buying an additional 208,440,017 shares in the last quarter. Koch Industries Inc. grew its stake in Check Point Software Technologies by 41,297.0% in the 2nd quarter. Koch Industries Inc. now owns 1,148,354 shares of the technology company’s stock valued at $1,138,000 after buying an additional 1,145,580 shares in the last quarter. Janus Henderson Group PLC grew its stake in Check Point Software Technologies by 336.7% in the 2nd quarter. Janus Henderson Group PLC now owns 1,152,428 shares of the technology company’s stock valued at $125,709,000 after buying an additional 888,530 shares in the last quarter. APG Asset Management N.V. grew its stake in Check Point Software Technologies by 53.0% in the 3rd quarter. APG Asset Management N.V. now owns 2,548,811 shares of the technology company’s stock valued at $290,615,000 after buying an additional 883,300 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. grew its stake in Check Point Software Technologies by 71.6% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 1,445,075 shares of the technology company’s stock valued at $164,767,000 after buying an additional 603,100 shares in the last quarter. Institutional investors own 71.73% of the company’s stock.

Shares of Check Point Software Technologies (CHKP) opened at $104.48 on Friday. The company has a market cap of $17,290.00, a PE ratio of 22.32, a price-to-earnings-growth ratio of 2.03 and a beta of 0.62. Check Point Software Technologies has a one year low of $96.25 and a one year high of $119.20.

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About Check Point Software Technologies

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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