Check Point Software Technologies (NASDAQ:CHKP) Releases Q2 2024 Earnings Guidance

Check Point Software Technologies (NASDAQ:CHKP) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 2.100-2.200 for the period. The company issued revenue guidance of $607.0 million-$637.0 million.

Check Point Software Technologies Trading Down 1.1 %

Shares of NASDAQ:CHKP traded down $1.75 during trading on Friday, reaching $151.20. The stock had a trading volume of 1,275,456 shares, compared to its average volume of 732,373. The firm’s 50-day simple moving average is $161.41 and its 200 day simple moving average is $152.89. The company has a market capitalization of $18.26 billion, a P/E ratio of 21.24, a PEG ratio of 2.61 and a beta of 0.61. Check Point Software Technologies has a one year low of $117.18 and a one year high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, hitting analysts’ consensus estimates of $1.72. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. The company had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. Equities research analysts forecast that Check Point Software Technologies will post 7.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CHKP shares. Susquehanna lifted their target price on shares of Check Point Software Technologies from $190.00 to $200.00 and gave the company a positive rating in a report on Wednesday, February 7th. Stifel Nicolaus cut their target price on shares of Check Point Software Technologies from $170.00 to $165.00 and set a hold rating for the company in a report on Friday. Needham & Company LLC reaffirmed a hold rating on shares of Check Point Software Technologies in a report on Friday. William Blair raised shares of Check Point Software Technologies from a market perform rating to an outperform rating in a report on Wednesday, January 31st. Finally, Scotiabank lifted their target price on shares of Check Point Software Technologies from $170.00 to $180.00 and gave the company a sector outperform rating in a report on Wednesday, February 7th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $164.00.

About Check Point Software Technologies

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.