The Check Point Software Technologies Ltd. (CHKP) Announces Quarterly Earnings Results

The Check Point Software Technologies Ltd. (CHKP) Announces Quarterly  Earnings Results

Check Point Software Technologies Ltd. (NASDAQ:CHKP) released its earnings results on Thursday. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.21. Check Point Software Technologies had a return on equity of 20.32% and a net margin of 40.73%. The company earned $487 million during the quarter, compared to the consensus estimate of $477.82 million. During the same quarter last year, the company earned $1.20 earnings per share.

Check Point Software Technologies (NASDAQ:CHKP) opened at 89.61 on Thursday. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 22.59 and a beta of 0.87. Check Point Software Technologies has a 52-week low of $72.44 and a 52-week high of $92.23. The company’s 50-day moving average price is $85.65 and its 200 day moving average price is $80.43.

A number of large investors have recently made changes to their positions in CHKP. Associated Banc Corp increased its stake in shares of Check Point Software Technologies by 5.3% in the second quarter. Associated Banc Corp now owns 3,508 shares of the company’s stock valued at $280,000 after buying an additional 175 shares in the last quarter. Commonwealth Bank of Australia increased its stake in shares of Check Point Software Technologies by 11.5% in the second quarter. Commonwealth Bank of Australia now owns 9,443 shares of the company’s stock valued at $754,000 after buying an additional 972 shares in the last quarter. Burney Co. increased its stake in shares of Check Point Software Technologies by 115.9% in the second quarter. Burney Co. now owns 13,594 shares of the company’s stock valued at $1,083,000 after buying an additional 7,298 shares in the last quarter. Freestone Capital Holdings LLC increased its stake in shares of Check Point Software Technologies by 2.8% in the second quarter. Freestone Capital Holdings LLC now owns 4,288 shares of the company’s stock valued at $342,000 after buying an additional 118 shares in the last quarter. Finally, BlackRock Japan Co. Ltd increased its stake in shares of Check Point Software Technologies by 100.8% in the second quarter. BlackRock Japan Co. Ltd now owns 228,129 shares of the company’s stock valued at $18,177,000 after buying an additional 114,503 shares in the last quarter. 71.76% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on CHKP shares. Deutsche Bank AG reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Saturday, October 15th. Zacks Investment Research raised Check Point Software Technologies from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Wednesday, November 30th. Robert W. Baird reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a research note on Tuesday, November 1st. RBC Capital Markets reaffirmed a “sector perform” rating and set a $96.00 price target (up previously from $90.00) on shares of Check Point Software Technologies in a research note on Tuesday. Finally, William Blair reaffirmed an “outperform” rating on shares of Check Point Software Technologies in a research note on Tuesday, November 1st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $92.59.

About Check Point Software Technologies

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

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