Check Point Software Technologies (CHKP) Expected to Post Quarterly Sales of $452.74 Million

Wall Street brokerages forecast that Check Point Software Technologies (NASDAQ:CHKP) will report sales of $452.74 million for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Check Point Software Technologies’ earnings. The highest sales estimate is $457.20 million and the lowest is $450.09 million. Check Point Software Technologies posted sales of $435.45 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4%. The business is expected to issue its next quarterly earnings report before the market opens on Wednesday, April 25th.

According to Zacks, analysts expect that Check Point Software Technologies will report full-year sales of $1.95 billion for the current year, with estimates ranging from $1.93 billion to $1.97 billion. For the next financial year, analysts expect that the firm will post sales of $2.05 billion per share, with estimates ranging from $1.99 billion to $2.09 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Check Point Software Technologies.

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Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.20. Check Point Software Technologies had a net margin of 43.29% and a return on equity of 22.74%. The company had revenue of $506.00 million during the quarter, compared to analysts’ expectations of $508.66 million. During the same quarter in the prior year, the company earned $1.46 EPS. The firm’s revenue was up 4.0% on a year-over-year basis.

Several brokerages have commented on CHKP. BidaskClub lowered shares of Check Point Software Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. Zacks Investment Research upgraded shares of Check Point Software Technologies from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Wells Fargo lowered shares of Check Point Software Technologies from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $103.41 to $117.00 in a report on Thursday, February 1st. JPMorgan Chase decreased their price objective on shares of Check Point Software Technologies to $113.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. Finally, Cleveland Research lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, January 25th. Twenty-one equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $113.99.

A number of hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its holdings in shares of Check Point Software Technologies by 6.4% during the 4th quarter. Victory Capital Management Inc. now owns 8,319 shares of the technology company’s stock valued at $862,000 after acquiring an additional 503 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Check Point Software Technologies by 0.5% during the 4th quarter. US Bancorp DE now owns 121,845 shares of the technology company’s stock valued at $12,626,000 after acquiring an additional 547 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Check Point Software Technologies by 0.6% during the 3rd quarter. California State Teachers Retirement System now owns 87,853 shares of the technology company’s stock valued at $10,017,000 after acquiring an additional 558 shares during the last quarter. Capital Analysts LLC boosted its holdings in shares of Check Point Software Technologies by 6.5% during the 4th quarter. Capital Analysts LLC now owns 9,166 shares of the technology company’s stock valued at $950,000 after acquiring an additional 563 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of Check Point Software Technologies by 2.9% during the 4th quarter. Comerica Bank now owns 21,645 shares of the technology company’s stock valued at $2,275,000 after acquiring an additional 600 shares during the last quarter. 67.59% of the stock is currently owned by institutional investors.

NASDAQ:CHKP traded down $1.02 during midday trading on Monday, reaching $103.07. 421,718 shares of the stock traded hands, compared to its average volume of 1,293,963. Check Point Software Technologies has a 12 month low of $95.03 and a 12 month high of $119.20. The firm has a market capitalization of $17,107.57, a P/E ratio of 21.36, a P/E/G ratio of 2.05 and a beta of 0.65.

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About Check Point Software Technologies

Check Point Software Technologies Ltd. provides hardware and software products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides security gateways to protect the networks and prevent the threats of enterprises, data centers, and small and large branch offices; security gateway appliances, including platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and security management software, which offers security management through a single console that streamlines security operations and provides visibility into policy administration and threat analysis.

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

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