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

Check Point Software Technologies (NASDAQ:CHKPGet Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 8.700-9.300 for the period, compared to the consensus earnings per share estimate of 9.050. The company issued revenue guidance of $2.5 billion-$2.6 billion, compared to the consensus revenue estimate of $2.5 billion. Check Point Software Technologies also updated its Q1 2024 guidance to 1.950-2.050 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company increased their target price on Check Point Software Technologies from $132.00 to $162.00 and gave the company an equal weight rating in a research note on Monday, January 29th. Citigroup increased their target price on Check Point Software Technologies from $140.00 to $155.00 and gave the company a neutral rating in a research note on Wednesday, January 10th. Mizuho increased their target price on Check Point Software Technologies from $135.00 to $140.00 and gave the company a neutral rating in a research note on Friday, December 15th. UBS Group raised their price objective on Check Point Software Technologies from $140.00 to $170.00 and gave the stock a neutral rating in a research note on Wednesday, January 10th. Finally, Truist Financial raised their price objective on Check Point Software Technologies from $140.00 to $170.00 and gave the stock a buy rating in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Check Point Software Technologies presently has an average rating of Hold and a consensus price target of $144.85.

View Our Latest Research Report on CHKP

Check Point Software Technologies Price Performance

CHKP opened at $162.45 on Wednesday. Check Point Software Technologies has a fifty-two week low of $117.18 and a fifty-two week high of $166.71. The business has a 50-day moving average of $153.22 and a 200-day moving average of $141.38. The company has a market capitalization of $19.01 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.67 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKPGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.10. Check Point Software Technologies had a return on equity of 30.88% and a net margin of 36.03%. The company had revenue of $663.50 million during the quarter, compared to the consensus estimate of $662.09 million. During the same period last year, the business earned $2.23 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts expect that Check Point Software Technologies will post 7.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its position in Check Point Software Technologies by 3.4% in the 3rd quarter. American Century Companies Inc. now owns 9,802 shares of the technology company’s stock worth $1,306,000 after buying an additional 318 shares during the period. Creative Planning grew its holdings in shares of Check Point Software Technologies by 24.5% during the 3rd quarter. Creative Planning now owns 13,428 shares of the technology company’s stock worth $1,790,000 after purchasing an additional 2,641 shares in the last quarter. Morgan Stanley grew its holdings in shares of Check Point Software Technologies by 4.9% during the 3rd quarter. Morgan Stanley now owns 741,541 shares of the technology company’s stock worth $98,833,000 after purchasing an additional 34,863 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of Check Point Software Technologies by 5.2% during the 3rd quarter. Townsquare Capital LLC now owns 5,241 shares of the technology company’s stock worth $699,000 after purchasing an additional 260 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Check Point Software Technologies by 14.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 49,003 shares of the technology company’s stock worth $6,531,000 after purchasing an additional 6,216 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

About Check Point Software Technologies

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

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