Check Point Software Technologies (NASDAQ:CHKP) Announces Quarterly Earnings Results

Check Point Software Technologies (NASDAQ:CHKP) posted its earnings results on Thursday. The technology company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.05, MarketWatch Earnings reports. The firm had revenue of $534.00 million for the quarter, compared to the consensus estimate of $529.37 million. Check Point Software Technologies had a return on equity of 25.16% and a net margin of 38.78%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.45 earnings per share.

NASDAQ CHKP opened at $119.60 on Friday. The stock’s 50-day simple moving average is $119.98 and its two-hundred day simple moving average is $120.06. Check Point Software Technologies has a twelve month low of $109.07 and a twelve month high of $139.26. The company has a market capitalization of $16.40 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 2.68 and a beta of 0.69.

CHKP has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded Check Point Software Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $132.00 to $136.00 in a research report on Thursday. Wedbush restated an “outperform” rating on shares of Check Point Software Technologies in a research report on Thursday. BMO Capital Markets increased their target price on Check Point Software Technologies from $135.00 to $140.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 27th. OTR Global upgraded Check Point Software Technologies from a “mixed” rating to a “positive” rating in a research report on Friday, July 9th. Finally, The Goldman Sachs Group downgraded Check Point Software Technologies from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $133.00 to $121.00 in a research report on Monday, September 13th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an…