Check Point Software Technologies Ltd. (NASDAQ:CHKP) Expected to Announce Quarterly Sales of $490.56 Million

Equities research analysts expect Check Point Software Technologies Ltd. (NASDAQ:CHKP) to report $490.56 million in sales for the current quarter, according to Zacks Investment Research. Fourteen analysts have made estimates for Check Point Software Technologies’ earnings. The highest sales estimate is $493.14 million and the lowest is $488.88 million. Check Point Software Technologies posted sales of $470.82 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.2%. The company is expected to report its next quarterly earnings results on Wednesday, October 23rd.

On average, analysts expect that Check Point Software Technologies will report full-year sales of $1.99 billion for the current year, with estimates ranging from $1.98 billion to $2.00 billion. For the next financial year, analysts anticipate that the company will post sales of $2.07 billion, with estimates ranging from $2.03 billion to $2.10 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Check Point Software Technologies.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Wednesday, July 24th. The technology company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.14. The firm had revenue of $488.10 million during the quarter, compared to analysts’ expectations of $487.53 million. Check Point Software Technologies had a net margin of 40.99% and a return on equity of 22.05%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.37 EPS.

Several brokerages have issued reports on CHKP. ValuEngine lowered shares of Check Point Software Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. BidaskClub lowered shares of Check Point Software Technologies from a “sell” rating to a “strong sell” rating in a report on Wednesday. Northland Securities reissued a “neutral” rating on shares of Check Point Software Technologies in a report on Thursday, July 25th. Barclays boosted their price target on shares of Check Point Software Technologies from $120.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Finally, OTR Global lowered shares of Check Point Software Technologies to a “positive” rating in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $124.47.

Check Point Software Technologies stock traded up $0.95 on Friday, hitting $111.74. The company’s stock had a trading volume of 1,093,145 shares, compared to its average volume of 988,922. The stock has a market capitalization of $17.01 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 2.31 and a beta of 0.79. The firm has a fifty day simple moving average of $115.61. Check Point Software Technologies has a one year low of $98.57 and a one year high of $132.76.

Institutional investors have recently added to or reduced their stakes in the business. Pinnacle Bank lifted its position in Check Point Software Technologies by 69.7% during the 2nd quarter. Pinnacle Bank now owns 258 shares of the technology company’s stock valued at $30,000 after purchasing an additional 106 shares during the period. NuWave Investment Management LLC lifted its position in Check Point Software Technologies by 64.5% during the 2nd quarter. NuWave Investment Management LLC now owns 306 shares of the technology company’s stock valued at $36,000 after purchasing an additional 120 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in Check Point Software Technologies during the 2nd quarter valued at about $39,000. First Personal Financial Services lifted its position in Check Point Software Technologies by 64.8% during the 1st quarter. First Personal Financial Services now owns 374 shares of the technology company’s stock valued at $47,000 after purchasing an additional 147 shares during the period. Finally, Meridian Wealth Management LLC acquired a new position in Check Point Software Technologies during the 1st quarter valued at about $63,000. Institutional investors own 71.03% 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.

Featured Story: Capital gains and your 401(k) or IRA

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

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

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 analysts' ratings for Check Point Software Technologies and related companies with MarketBeat.com's FREE daily email newsletter.