Check Point Software Technologies (NASDAQ:CHKP) Updates Q4 2024 Earnings Guidance

by · The Markets Daily

Check Point Software Technologies (NASDAQ:CHKP – Get Free Report) updated its fourth quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 2.600-2.700 for the period, compared to the consensus earnings per share estimate of 2.650. The company issued revenue guidance of $675.0 million-$715.0 million, compared to the consensus revenue estimate of $698.6 million. Check Point Software Technologies also updated its FY 2024 guidance to 9.050-9.150 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CHKP. Truist Financial lifted their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group raised their price objective on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Mizuho raised their price objective on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird dropped their price objective on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $187.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Check Point Software Technologies currently has an average rating of “Hold” and an average target price of $197.74.

View Our Latest Analysis on Check Point Software Technologies

Check Point Software Technologies Stock Performance

Shares of CHKP opened at $170.00 on Monday. The company’s fifty day moving average is $194.47 and its 200 day moving average is $174.99. Check Point Software Technologies has a fifty-two week low of $136.19 and a fifty-two week high of $210.70. The stock has a market capitalization of $18.70 billion, a PE ratio of 23.29, a P/E/G ratio of 2.96 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting the consensus estimate of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The company had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. During the same quarter in the previous year, the business posted $1.80 earnings per share. Check Point Software Technologies’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, research analysts forecast that Check Point Software Technologies will post 7.86 earnings per share for the current year.

Check Point Software Technologies Company Profile

(Get Free Report)

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.

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