Brokerages Anticipate Check Point Software Technologies Ltd. (NASDAQ:CHKP) Will Announce Quarterly Sales of $449.39 Million

Wall Street analysts expect that Check Point Software Technologies Ltd. (NASDAQ:CHKP) will post $449.39 million in sales for the current quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Check Point Software Technologies’ earnings, with estimates ranging from $439.21 million to $457.90 million. Check Point Software Technologies reported sales of $427.57 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.1%. The business is scheduled to issue its next earnings results on Monday, October 30th.

On average, analysts expect that Check Point Software Technologies will report full-year sales of $449.39 million for the current year, with estimates ranging from $1.85 billion to $1.88 billion. For the next financial year, analysts expect that the business will post sales of $2.00 billion per share, with estimates ranging from $1.97 billion to $2.03 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Check Point Software Technologies.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Thursday, July 20th. The technology company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.04. The business had revenue of $458.60 million during the quarter, compared to analyst estimates of $454.62 million. Check Point Software Technologies had a return on equity of 22.02% and a net margin of 42.17%. Check Point Software Technologies’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS.

A number of research analysts have commented on CHKP shares. Argus restated a “buy” rating and set a $124.00 price target (up from $115.00) on shares of Check Point Software Technologies in a research note on Tuesday, July 25th. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 price objective (down from $117.00) on shares of Check Point Software Technologies in a research note on Friday, July 21st. Morgan Stanley upgraded Check Point Software Technologies from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $87.00 to $107.00 in a research note on Tuesday, April 18th. BidaskClub upgraded Check Point Software Technologies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Finally, BTIG Research reiterated a “buy” rating and issued a $118.00 price objective on shares of Check Point Software Technologies in a research note on Monday, April 24th. Eighteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target of $109.25.

Several institutional investors have recently added to or reduced their stakes in the company. Fiduciary Trust Co. bought a new position in Check Point Software Technologies during the second quarter worth about $145,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Check Point Software Technologies by 1.4% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,425 shares of the technology company’s stock worth $151,000 after buying an additional 20 shares in the last quarter. Quadrant Capital Group LLC raised its position in Check Point Software Technologies by 32.0% in the first quarter. Quadrant Capital Group LLC now owns 1,531 shares of the technology company’s stock worth $153,000 after buying an additional 371 shares in the last quarter. Crestwood Advisors Group LLC bought a new position in Check Point Software Technologies during the first quarter worth about $154,000. Finally, IFP Advisors Inc raised its position in Check Point Software Technologies by 2.4% in the first quarter. IFP Advisors Inc now owns 1,513 shares of the technology company’s stock worth $155,000 after buying an additional 36 shares in the last quarter. 72.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Check Point Software Technologies (NASDAQ CHKP) traded down 1.53% during midday trading on Thursday, reaching $105.78. The company’s stock had a trading volume of 388,379 shares. The company has a market capitalization of $17.28 billion, a P/E ratio of 23.47 and a beta of 0.72. Check Point Software Technologies has a one year low of $74.34 and a one year high of $116.63. The stock’s 50-day moving average is $109.86 and its 200-day moving average is $105.56.

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Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

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