Check Point Software Technologies (NASDAQ:CHKP) Updates Q2 2024 Earnings Guidance

Check Point Software Technologies (NASDAQ:CHKP) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.100-2.200 for the period. The company issued revenue guidance of $607.0 million-$637.0 million.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $151.20 on Friday. The firm has a fifty day moving average price of $161.41 and a 200-day moving average price of $152.89. The stock has a market cap of $18.26 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. Check Point Software Technologies has a 1 year low of $117.18 and a 1 year high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $1.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.72. The firm had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.30%. On average, research analysts expect that Check Point Software Technologies will post 7.85 EPS for the current year.

Wall Street Analyst Weigh In

CHKP has been the subject of several research analyst reports. UBS Group raised their target price on shares of Check Point Software Technologies from $140.00 to $170.00 and gave the company a neutral rating in a research note on Wednesday, January 10th. Mizuho reaffirmed a neutral rating and set a $160.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, March 27th. Truist Financial raised their target price on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Barclays raised their target price on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company an equal weight rating in a research note on Friday. Finally, William Blair raised shares of Check Point Software Technologies from a market perform rating to an outperform rating in a research note on Wednesday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Check Point Software Technologies has an average rating of Hold and a consensus target price of $164.00.

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 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.