Zacks: Analysts Anticipate Check Point Software Technologies (CHKP) Will Post Quarterly Sales of $452.74 Million

Analysts predict that Check Point Software Technologies (NASDAQ:CHKP) will post $452.74 million in sales for the current quarter, Zacks reports. Ten analysts have issued estimates for Check Point Software Technologies’ earnings, with estimates ranging from $450.09 million to $457.20 million. Check Point Software Technologies posted sales of $435.45 million during the same quarter last year, which suggests a positive year over year growth rate of 4%. The company is expected to report its next earnings results before the market opens on Wednesday, April 25th.

According to Zacks, analysts expect that Check Point Software Technologies will report full-year sales of $1.95 billion for the current year, with estimates ranging from $1.93 billion to $1.97 billion. For the next financial year, analysts expect that the firm will post sales of $2.05 billion per share, with estimates ranging from $1.99 billion to $2.09 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Check Point Software Technologies.

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Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.20. Check Point Software Technologies had a return on equity of 22.74% and a net margin of 43.29%. The firm had revenue of $506.00 million during the quarter, compared to the consensus estimate of $508.66 million. During the same period last year, the company earned $1.46 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis.

Several brokerages recently weighed in on CHKP. BidaskClub raised Check Point Software Technologies from a “sell” rating to a “hold” rating in a report on Friday. Cleveland Research cut Check Point Software Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, January 25th. Wells Fargo cut Check Point Software Technologies from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $103.41 to $117.00 in a research report on Thursday, February 1st. JPMorgan Chase cut their price objective on Check Point Software Technologies to $113.00 and set a “neutral” rating for the company in a research report on Wednesday, January 31st. Finally, Zacks Investment Research upgraded Check Point Software Technologies from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Twenty-two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Check Point Software Technologies presently has an average rating of “Hold” and a consensus target price of $113.67.

Several hedge funds have recently made changes to their positions in CHKP. Earnest Partners LLC purchased a new position in shares of Check Point Software Technologies in the fourth quarter valued at $100,959,000. Arrowstreet Capital Limited Partnership increased its position in shares of Check Point Software Technologies by 48.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,191,511 shares of the technology company’s stock valued at $123,464,000 after buying an additional 391,569 shares in the last quarter. Atlanta Capital Management Co. L L C increased its position in shares of Check Point Software Technologies by 77.1% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 732,689 shares of the technology company’s stock valued at $75,921,000 after buying an additional 318,864 shares in the last quarter. APG Asset Management N.V. increased its position in shares of Check Point Software Technologies by 11.8% in the fourth quarter. APG Asset Management N.V. now owns 2,850,228 shares of the technology company’s stock valued at $245,953,000 after buying an additional 301,417 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its position in shares of Check Point Software Technologies by 88.5% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 486,317 shares of the technology company’s stock valued at $50,393,000 after buying an additional 228,267 shares in the last quarter. Institutional investors and hedge funds own 67.53% of the company’s stock.

Shares of NASDAQ CHKP opened at $102.55 on Monday. Check Point Software Technologies has a 1-year low of $95.03 and a 1-year high of $119.20. The firm has a market cap of $16,782.32, a P/E ratio of 20.97, a P/E/G ratio of 2.01 and a beta of 0.65.

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Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. provides hardware and software products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides security gateways to protect the networks and prevent the threats of enterprises, data centers, and small and large branch offices; security gateway appliances, including platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and security management software, which offers security management through a single console that streamlines security operations and provides visibility into policy administration and threat analysis.

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

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