Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) – Research analysts at Wedbush lowered their Q3 2022 earnings per share (EPS) estimates for Check Point Software Technologies in a research report issued to clients and investors on Tuesday, August 2nd. Wedbush analyst D. Ives now anticipates that the technology company will earn $1.44 per share for the quarter, down from their prior forecast of $1.55. Wedbush currently has a “Outperform” rating and a $155.00 price objective on the stock. The consensus estimate for Check Point Software Technologies’ current full-year earnings is $6.18 per share. Wedbush also issued estimates for Check Point Software Technologies’ Q4 2022 earnings at $2.05 EPS, FY2022 earnings at $6.26 EPS, Q1 2023 earnings at $1.52 EPS, Q3 2023 earnings at $1.64 EPS, Q4 2023 earnings at $2.15 EPS and FY2023 earnings at $6.91 EPS.
Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last announced its earnings results on Monday, August 1st. The technology company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.02. Check Point Software Technologies had a return on equity of 25.49% and a net margin of 35.15%. The business had revenue of $571.10 million during the quarter, compared to analysts’ expectations of $560.40 million. During the same quarter in the prior year, the firm earned $1.41 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year.
Check Point Software Technologies Price Performance
Shares of Check Point Software Technologies stock opened at $119.31 on Friday. The business has a 50 day simple moving average of $123.53 and a two-hundred day simple moving average of $129.27. Check Point Software Technologies has a 12 month low of $107.85 and a 12 month high of $149.62. The stock has a market capitalization of $14.96 billion, a P/E ratio of 19.75, a PEG ratio of 2.60 and a beta of 0.60.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its stake in Check Point Software Technologies by 20.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 21,105 shares of the technology company’s stock worth $2,460,000 after purchasing an additional 3,569 shares in the last quarter. Yousif Capital Management LLC acquired a new position in Check Point Software Technologies during the fourth quarter worth $738,000. Qube Research & Technologies Ltd lifted its stake in Check Point Software Technologies by 688.6% during the fourth quarter. Qube Research & Technologies Ltd now owns 93,081 shares of the technology company’s stock worth $10,850,000 after purchasing an additional 81,278 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new position in Check Point Software Technologies during the fourth quarter worth $356,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Check Point Software Technologies during the fourth quarter worth $1,685,000. 91.96% of the stock is currently owned by hedge funds and other institutional investors.
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 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.
- Get a free copy of the StockNews.com research report on Check Point Software Technologies (CHKP)
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