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

Check Point Software Technologies (NASDAQ:CHKP) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) 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

CHKP stock opened at $151.20 on Monday. The company’s 50 day simple moving average is $161.41 and its 200-day simple moving average is $153.14. Check Point Software Technologies has a 52-week low of $117.18 and a 52-week high of $168.82. The firm has a market capitalization of $18.26 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.45 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.72. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.30%. The company had revenue of $598.80 million for the quarter, compared to the consensus estimate of $595.28 million. Sell-side analysts predict that Check Point Software Technologies will post 7.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CHKP. Needham & Company LLC reaffirmed a hold rating on shares of Check Point Software Technologies in a research note on Friday. William Blair upgraded shares of Check Point Software Technologies from a market perform rating to an outperform rating in a research note on Wednesday, January 31st. Royal Bank of Canada lifted their target price on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the company a sector perform rating in a research note on Wednesday, February 7th. Wells Fargo & Company upped their price target on shares of Check Point Software Technologies from $132.00 to $162.00 and gave the stock an equal weight rating in a research note on Monday, January 29th. Finally, Mizuho reissued a neutral rating and set a $160.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies presently has a consensus rating of Hold and an average price target 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.