Q3 2022 Earnings Forecast for Check Point Software Technologies Ltd. (NASDAQ:CHKP) Issued By Jefferies Financial Group

Check Point Software Technologies Ltd. (NASDAQ:CHKPGet Rating) – Stock analysts at Jefferies Financial Group reduced their Q3 2022 EPS estimates for Check Point Software Technologies in a research report issued on Tuesday, August 2nd. Jefferies Financial Group analyst J. Gallo now forecasts that the technology company will post earnings per share of $1.43 for the quarter, down from their previous forecast of $1.46. The consensus estimate for Check Point Software Technologies’ current full-year earnings is $6.18 per share. Jefferies Financial Group also issued estimates for Check Point Software Technologies’ Q4 2022 earnings at $1.97 EPS, FY2022 earnings at $6.18 EPS, Q1 2023 earnings at $1.46 EPS, Q2 2023 earnings at $1.54 EPS, Q3 2023 earnings at $1.59 EPS and Q4 2023 earnings at $2.23 EPS.

Check Point Software Technologies (NASDAQ:CHKPGet Rating) last posted its quarterly earnings data on Monday, August 1st. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.02. The business had revenue of $571.10 million during the quarter, compared to analysts’ expectations of $560.40 million. Check Point Software Technologies had a net margin of 35.15% and a return on equity of 25.49%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $1.41 earnings per share.

Other analysts have also issued reports about the stock. BMO Capital Markets cut their target price on shares of Check Point Software Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a research note on Tuesday. Wedbush increased their target price on shares of Check Point Software Technologies from $142.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, April 14th. Wells Fargo & Company cut their target price on shares of Check Point Software Technologies from $144.00 to $130.00 in a research note on Thursday, April 28th. Credit Suisse Group increased their target price on shares of Check Point Software Technologies from $105.00 to $115.00 in a research note on Thursday, April 28th. Finally, Bank of America raised shares of Check Point Software Technologies from an “underperform” rating to a “buy” rating and increased their target price for the company from $130.00 to $140.00 in a research note on Wednesday, July 20th. Six equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $138.00.

Check Point Software Technologies Price Performance

CHKP stock opened at $119.31 on Friday. Check Point Software Technologies has a 12 month low of $107.85 and a 12 month high of $149.62. The firm has a market cap of $14.96 billion, a PE ratio of 19.75, a P/E/G ratio of 2.60 and a beta of 0.60. The firm has a 50 day simple moving average of $123.53 and a 200 day simple moving average of $129.27.

Institutional Trading of Check Point Software Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tcwp LLC bought a new position in shares of Check Point Software Technologies during the 1st quarter worth about $26,000. AdvisorNet Financial Inc lifted its holdings in shares of Check Point Software Technologies by 107.0% during the 1st quarter. AdvisorNet Financial Inc now owns 236 shares of the technology company’s stock worth $33,000 after acquiring an additional 122 shares during the period. MV Capital Management Inc. bought a new position in shares of Check Point Software Technologies during the 1st quarter worth about $45,000. Sageworth Trust Co of South Dakota bought a new position in shares of Check Point Software Technologies during the 4th quarter worth about $49,000. Finally, West Bancorporation Inc. bought a new position in shares of Check Point Software Technologies during the 1st quarter worth about $66,000. 91.96% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Company Profile

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Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.

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Earnings History and Estimates for Check Point Software Technologies (NASDAQ:CHKP)

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