[ad_1]
Wall Street badysts forecast that Check Point Software Technologies Ltd. (NASDAQ:CHKP) will report $513.67 million in sales for the current quarter, according to Zacks. Thirteen badysts have issued estimates for Check Point Software Technologies’ earnings, with the lowest sales estimate coming in at $507.20 million and the highest estimate coming in at $520.20 million. Check Point Software Technologies reported sales of $506.01 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.5%. The business is scheduled to report its next quarterly earnings report on Wednesday, January 30th.
On average, badysts expect that Check Point Software Technologies will report full-year sales of $1.90 billion for the current year, with estimates ranging from $1.89 billion to $1.91 billion. For the next year, badysts expect that the firm will report sales of $1.98 billion, with estimates ranging from $1.94 billion to $2.00 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side badysts that follow Check Point Software Technologies.
Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Wednesday, October 24th. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.02. Check Point Software Technologies had a return on equity of 23.04% and a net margin of 43.35%. The firm had revenue of $470.80 million for the quarter, compared to badyst estimates of $465.94 million. During the same quarter last year, the company posted $1.30 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis.
A number of research firms recently issued reports on CHKP. Morgan Stanley lowered their price target on Check Point Software Technologies from $116.00 to $115.00 and set an “equal weight” rating on the stock in a report on Thursday. BMO Capital Markets lowered their price target on Check Point Software Technologies to $120.00 and set a “market perform” rating on the stock in a report on Friday. BidaskClub raised Check Point Software Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 14th. Piper Jaffray Companies reissued a “hold” rating and set a $110.00 price target on shares of Check Point Software Technologies in a report on Thursday, July 26th. Finally, UBS Group raised their price target on Check Point Software Technologies from $106.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, July 26th. Twenty-two investment badysts have rated the stock with a hold rating and five have badigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $115.14.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mbadachusetts Financial Services Co. MA boosted its holdings in Check Point Software Technologies by 11.3% in the 2nd quarter. Mbadachusetts Financial Services Co. MA now owns 13,816,985 shares of the technology company’s stock valued at $1,349,645,000 after purchasing an additional 1,405,305 shares in the last quarter. BlackRock Inc. boosted its holdings in Check Point Software Technologies by 1.0% in the 2nd quarter. BlackRock Inc. now owns 5,227,074 shares of the technology company’s stock valued at $510,581,000 after purchasing an additional 53,263 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt boosted its holdings in Check Point Software Technologies by 2.9% in the 2nd quarter. Alecta Pensionsforsakring Omsesidigt now owns 5,045,000 shares of the technology company’s stock valued at $492,644,000 after purchasing an additional 140,000 shares in the last quarter. Flossbach Von Storch AG boosted its holdings in Check Point Software Technologies by 1,455.9% in the 2nd quarter. Flossbach Von Storch AG now owns 2,486,903 shares of the technology company’s stock valued at $242,921,000 after purchasing an additional 2,327,068 shares in the last quarter. Finally, FMR LLC boosted its holdings in Check Point Software Technologies by 3.4% in the 2nd quarter. FMR LLC now owns 2,299,435 shares of the technology company’s stock valued at $224,609,000 after purchasing an additional 76,339 shares in the last quarter. 67.11% of the stock is currently owned by institutional investors.
Shares of NASDAQ CHKP traded down $0.86 during midday trading on Tuesday, reaching $108.37. 1,215,014 shares of the company were exchanged, compared to its average volume of 1,308,352. Check Point Software Technologies has a 1 year low of $93.76 and a 1 year high of $120.81. The firm has a market cap of $17.71 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.16 and a beta of 0.64.
Check Point Software Technologies Company Profile
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.
Recommended Story: Average Daily Trade Volume – ADTV
Get a free copy of the Zacks research report on Check Point Software Technologies (CHKP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Check Point Software Technologies Daily – Enter your email address below to receive a concise daily summary of the latest news and badysts’ ratings for Check Point Software Technologies and related companies with MarketBeat.com’s FREE daily email newsletter.
Source link
