Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) – Research analysts at Wedbush reduced their Q1 2023 EPS estimates for Check Point Software Technologies in a research note issued to investors on Tuesday, February 14th. Wedbush analyst D. Ives now expects that the technology company will post earnings of $1.47 per share for the quarter, down from their prior estimate of $1.48. The consensus estimate for Check Point Software Technologies’ current full-year earnings is $6.97 per share. Wedbush also issued estimates for Check Point Software Technologies’ Q2 2023 earnings at $1.60 EPS, Q3 2023 earnings at $1.67 EPS, Q4 2023 earnings at $2.25 EPS, FY2023 earnings at $6.99 EPS, Q1 2024 earnings at $1.60 EPS, Q2 2024 earnings at $1.78 EPS and Q3 2024 earnings at $1.87 EPS.
Other equity analysts have also recently issued reports about the stock. JPMorgan Chase & Co. began coverage on shares of Check Point Software Technologies in a research note on Tuesday, January 24th. They set a “neutral” rating and a $134.00 target price for the company. Barclays upped their target price on shares of Check Point Software Technologies from $135.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday, October 28th. Mizuho upped their target price on shares of Check Point Software Technologies from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, October 28th. Truist Financial upped their target price on shares of Check Point Software Technologies from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Macquarie began coverage on shares of Check Point Software Technologies in a research note on Wednesday, November 2nd. They set a “neutral” rating and a $129.00 target price for the company. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $139.52.
Check Point Software Technologies Trading Up 0.8 %
Shares of Check Point Software Technologies stock opened at $124.96 on Friday. The firm has a fifty day simple moving average of $127.92 and a 200-day simple moving average of $123.85. Check Point Software Technologies has a 1-year low of $107.54 and a 1-year high of $149.62. The stock has a market capitalization of $15.67 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 2.50 and a beta of 0.68.
Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last issued its quarterly earnings data on Monday, February 13th. The technology company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.09. Check Point Software Technologies had a net margin of 34.20% and a return on equity of 27.22%. The business had revenue of $638.50 million during the quarter, compared to analysts’ expectations of $636.24 million. During the same period in the previous year, the company earned $2.02 earnings per share. Check Point Software Technologies’s revenue for the quarter was up 6.6% on a year-over-year basis.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trifecta Capital Advisors LLC acquired a new position in Check Point Software Technologies during the 4th quarter worth about $28,000. Resurgent Financial Advisors LLC acquired a new position in Check Point Software Technologies during the 4th quarter worth about $28,000. Lindbrook Capital LLC lifted its position in Check Point Software Technologies by 66.0% during the 4th quarter. Lindbrook Capital LLC now owns 259 shares of the technology company’s stock worth $33,000 after buying an additional 103 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in Check Point Software Technologies during the 2nd quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC lifted its position in Check Point Software Technologies by 86.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 339 shares of the technology company’s stock valued at $43,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.
About Check Point Software Technologies
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Check Point Software Technologies Ltd. is engaged in the development and marketing of software and hardware solutions for information technology security. Its products include Quantum, CloudGuard, Harmony, and Infinity-Vision. The company was founded by Gil Shwed, Marius Nacht, and Shlomo Kramer in July 1993 and is headquartered in Tel Aviv, Israel.
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