Zacks: Brokerages Expect Check Point Software Technologies Ltd. (NASDAQ:CHKP) Will Announce Quarterly Sales of $486.37 Million

Equities research analysts expect that Check Point Software Technologies Ltd. (NASDAQ:CHKP) will report sales of $486.37 million for the current quarter, Zacks reports. Eleven analysts have made estimates for Check Point Software Technologies’ earnings. The highest sales estimate is $495.59 million and the lowest is $477.78 million. Check Point Software Technologies posted sales of $488.12 million in the same quarter last year, which suggests a negative year over year growth rate of 0.4%. The firm is expected to report its next earnings report on Wednesday, July 22nd.

According to Zacks, analysts expect that Check Point Software Technologies will report full year sales of $2.01 billion for the current fiscal year, with estimates ranging from $1.95 billion to $2.04 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.06 billion, with estimates ranging from $1.96 billion to $2.11 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Check Point Software Technologies.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Monday, April 27th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Check Point Software Technologies had a net margin of 41.03% and a return on equity of 23.45%. The firm had revenue of $486.50 million for the quarter, compared to analyst estimates of $480.78 million. During the same quarter in the prior year, the business earned $1.32 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year.

Several equities research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Check Point Software Technologies from $88.00 to $90.00 and gave the company an “underweight” rating in a research note on Tuesday, April 28th. Cowen decreased their price objective on shares of Check Point Software Technologies from $115.00 to $100.00 and set a “market perform” rating for the company in a research note on Tuesday, April 21st. Mizuho reiterated a “hold” rating and issued a $107.00 price objective on shares of Check Point Software Technologies in a research note on Tuesday, April 28th. Bank of America increased their price objective on shares of Check Point Software Technologies from $100.00 to $102.00 and gave the company an “underperform” rating in a research note on Tuesday, April 28th. Finally, William Blair lowered shares of Check Point Software Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $109.79.

Shares of CHKP traded down $0.42 on Wednesday, reaching $107.23. The company’s stock had a trading volume of 1,180,009 shares, compared to its average volume of 1,364,920. Check Point Software Technologies has a twelve month low of $80.06 and a twelve month high of $120.99. The stock has a market capitalization of $15.66 billion, a PE ratio of 19.39, a PEG ratio of 2.36 and a beta of 0.63. The firm has a fifty day moving average of $105.29 and a 200-day moving average of $108.70.

A number of large investors have recently modified their holdings of CHKP. Pendal Group Ltd purchased a new position in Check Point Software Technologies in the 4th quarter worth $321,280,000. Investec Asset Management LTD purchased a new position in Check Point Software Technologies in the 4th quarter worth $299,880,000. APG Asset Management N.V. grew its holdings in Check Point Software Technologies by 1,144.8% in the 1st quarter. APG Asset Management N.V. now owns 2,235,672 shares of the technology company’s stock worth $251,850,000 after acquiring an additional 2,056,064 shares during the last quarter. Norges Bank bought a new stake in Check Point Software Technologies in the 4th quarter worth $139,562,000. Finally, AKO Capital LLP grew its holdings in Check Point Software Technologies by 99.4% in the 1st quarter. AKO Capital LLP now owns 1,558,021 shares of the technology company’s stock worth $156,643,000 after acquiring an additional 776,543 shares during the last quarter. Institutional investors own 68.51% of the company’s stock.

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 and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; 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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