Check Point Software Technologies Ltd. (NASDAQ:CHKP) Expected to Announce Quarterly Sales of $487.56 Million

Brokerages expect Check Point Software Technologies Ltd. (NASDAQ:CHKP) to post $487.56 million in sales for the current quarter, according to Zacks. Thirteen analysts have provided estimates for Check Point Software Technologies’ earnings. The highest sales estimate is $490.40 million and the lowest is $485.70 million. Check Point Software Technologies posted sales of $467.77 million in the same quarter last year, which suggests a positive year over year growth rate of 4.2%. The firm is scheduled to report its next earnings results on Wednesday, July 24th.

According to Zacks, analysts expect that Check Point Software Technologies will report full year sales of $1.99 billion for the current year, with estimates ranging from $1.90 billion to $2.00 billion. For the next year, analysts anticipate that the business will report sales of $2.08 billion, with estimates ranging from $2.03 billion to $2.11 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Check Point Software Technologies.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Thursday, April 18th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.01. The company had revenue of $471.83 million for the quarter, compared to the consensus estimate of $471.16 million. Check Point Software Technologies had a return on equity of 22.41% and a net margin of 42.05%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.30 EPS.

Several analysts recently issued reports on the company. BidaskClub downgraded Check Point Software Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. ValuEngine downgraded Check Point Software Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. BMO Capital Markets reissued an “outperform” rating and set a $125.00 target price (up previously from $120.00) on shares of Check Point Software Technologies in a research note on Monday, April 22nd. Barclays lifted their target price on Check Point Software Technologies from $120.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Finally, Cowen assumed coverage on Check Point Software Technologies in a research note on Thursday, May 23rd. They set a “market perform” rating and a $120.00 target price on the stock. Seventeen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $122.00.

CHKP traded up $0.32 on Tuesday, hitting $113.32. 693,654 shares of the company’s stock traded hands, compared to its average volume of 790,650. The company has a market capitalization of $17.25 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 2.33 and a beta of 0.80. Check Point Software Technologies has a one year low of $95.67 and a one year high of $132.76.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Check Point Software Technologies by 11.7% in the 1st quarter. BlackRock Inc. now owns 5,824,800 shares of the technology company’s stock worth $736,781,000 after purchasing an additional 612,046 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Check Point Software Technologies by 39,495.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,990,827 shares of the technology company’s stock worth $39,000 after purchasing an additional 3,980,748 shares during the period. APG Asset Management N.V. boosted its holdings in shares of Check Point Software Technologies by 4.5% in the 4th quarter. APG Asset Management N.V. now owns 2,568,672 shares of the technology company’s stock worth $230,656,000 after purchasing an additional 111,200 shares during the period. Flossbach Von Storch AG boosted its holdings in shares of Check Point Software Technologies by 2.6% in the 4th quarter. Flossbach Von Storch AG now owns 2,528,746 shares of the technology company’s stock worth $259,576,000 after purchasing an additional 63,930 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in shares of Check Point Software Technologies by 1,576.6% in the 1st quarter. William Blair Investment Management LLC now owns 1,651,678 shares of the technology company’s stock worth $208,921,000 after purchasing an additional 1,553,162 shares during the period. Institutional investors and hedge funds own 71.29% 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 Article: Moving Average – How it Helps Investors in Stock Selection

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.