Check Point Software Technologies Ltd. (NASDAQ:CHKP) Expected to Announce Quarterly Sales of $523.50 Million


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Equities analysts predict that Check Point Software Technologies Ltd. (NASDAQ:CHKP) will post sales of $523.50 million for the current quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Check Point Software Technologies’ earnings, with the lowest sales estimate coming in at $520.29 million and the highest estimate coming in at $528.00 million. Check Point Software Technologies posted sales of $505.60 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.5%. The company is scheduled to report its next quarterly earnings results on Wednesday, July 28th.

According to Zacks, analysts expect that Check Point Software Technologies will report full-year sales of $2.14 billion for the current financial year, with estimates ranging from $2.12 billion to $2.16 billion. For the next financial year, analysts expect that the business will post sales of $2.20 billion, with estimates ranging from $2.15 billion to $2.22 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Check Point Software Technologies.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Sunday, April 25th. The technology company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.04. Check Point Software Technologies had a return on equity of 25.10% and a net margin of 41.47%. The company had revenue of $507.60 million during the quarter, compared to the consensus estimate of $502.92 million. During the same quarter last year, the company earned $1.42 earnings per share. Check Point Software Technologies’s quarterly revenue was up 4.3% compared to the same quarter last year.

Several analysts have commented on the company. Zacks Investment Research upgraded Check Point Software Technologies from a “sell” rating to a “hold” rating and set a $121.00 price target for the company in a report on Tuesday, April 6th. OTR Global raised Check Point Software Technologies to a “positive” rating in a research report on Friday, January 8th. Mizuho upped their target price on Check Point Software Technologies from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Tuesday, January 12th. BMO Capital Markets dropped their price target on Check Point Software Technologies from $140.00 to $135.00 and set a “market perform” rating on the stock in a research report on Monday. Finally, Oppenheimer reissued a “market perform” rating on shares of Check Point Software Technologies in a research report on Thursday, April 15th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $130.12.

Check Point Software Technologies stock traded up $1.25 during midday trading on Thursday, reaching $120.10. 2,125,280 shares of the company were exchanged, compared to its average volume of 1,395,059. The company has a market capitalization of $16.47 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 2.82 and a beta of 0.66. The firm’s 50-day simple moving average is $116.64 and its 200-day simple moving average is $120.71. Check Point Software Technologies has a 1 year low of $101.27 and a 1 year high of $139.26.

A number of hedge funds have recently modified their holdings of CHKP. Norges Bank acquired a new position in Check Point Software Technologies in the 4th quarter worth about $150,831,000. BlackRock Inc. increased its holdings in shares of Check Point Software Technologies by 9.2% during the 4th quarter. BlackRock Inc. now owns 5,634,080 shares of the technology company’s stock valued at $748,827,000 after acquiring an additional 476,981 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Check Point Software Technologies by 50.5% during the 4th quarter. Wells Fargo & Company MN now owns 1,113,739 shares of the technology company’s stock valued at $148,026,000 after acquiring an additional 373,776 shares during the last quarter. Ruffer LLP grew its holdings in Check Point Software Technologies by 673.9% in the 4th quarter. Ruffer LLP now owns 429,081 shares of the technology company’s stock valued at $57,059,000 after buying an additional 373,638 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Check Point Software Technologies by 24.6% in the 4th quarter. First Trust Advisors LP now owns 1,506,246 shares of the technology company’s stock valued at $200,195,000 after buying an additional 297,393 shares during the last quarter. 67.86% of the stock is currently owned by 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; Check Point Network Security, security gateways and software platforms that support small business and large enterprise data center and telco-grade environment; and Check Point SandBlast family for threat prevention and zero-day protections.

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

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