Q3 2022 EPS Estimates for Check Point Software Technologies Ltd. (NASDAQ:CHKP) Reduced by Wedbush

Check Point Software Technologies Ltd. (NASDAQ:CHKPGet 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:CHKPGet 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.

A number of other brokerages have also recently commented on CHKP. Piper Sandler reduced their target price on Check Point Software Technologies from $130.00 to $120.00 in a report on Wednesday, July 13th. Bank of America upgraded Check Point Software Technologies from an “underperform” rating to a “buy” rating and upped their price target for the company from $130.00 to $140.00 in a research report on Wednesday, July 20th. BMO Capital Markets dropped their price target on Check Point Software Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday. Jefferies Financial Group dropped their price target on Check Point Software Technologies from $145.00 to $130.00 in a research report on Monday, May 23rd. Finally, Wells Fargo & Company dropped their price target on Check Point Software Technologies from $144.00 to $130.00 in a research report on Thursday, April 28th. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies currently has a consensus rating of “Hold” and an average target price of $138.00.

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

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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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