Q1 2023 EPS Estimates for Check Point Software Technologies Ltd. (NASDAQ:CHKP) Increased by Analyst – MarketBeat
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Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) – Investment analysts at KeyCorp increased their Q1 2023 earnings per share (EPS) estimates for Check Point Software Technologies in a note issued to investors on Tuesday, November 15th. KeyCorp analyst M. Turits now expects that the technology company will post earnings per share of $1.60 for the quarter, up from their prior estimate of $1.59. The consensus estimate for Check Point Software Technologies’ current full-year earnings is $6.38 per share. KeyCorp also issued estimates for Check Point Software Technologies’ FY2024 earnings at $8.10 EPS.
Several other research analysts have also issued reports on the company. Truist Financial cut their price target on Check Point Software Technologies from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, October 24th. Bank of America upgraded Check Point Software Technologies from an “underperform” rating to a “buy” rating and upped their price target for the stock from $130.00 to $140.00 in a report on Wednesday, July 20th. Mizuho lifted their price objective on shares of Check Point Software Technologies from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, October 28th. Morgan Stanley increased their target price on shares of Check Point Software Technologies from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Friday, October 28th. Finally, StockNews.com initiated coverage on shares of Check Point Software Technologies in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and an average target price of $136.80.
Check Point Software Technologies Stock Down 0.9 %
Check Point Software Technologies stock opened at $127.84 on Thursday. The company has a market capitalization of $16.03 billion, a PE ratio of 20.92, a PEG ratio of 2.76 and a beta of 0.66. Check Point Software Technologies has a 12-month low of $107.54 and a 12-month high of $149.62. The firm’s fifty day moving average is $118.75 and its 200 day moving average is $121.47.
Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The technology company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.10. Check Point Software Technologies had a return on equity of 26.20% and a net margin of 34.35%. The company had revenue of $577.60 million during the quarter, compared to the consensus estimate of $571.78 million. During the same period last year, the company earned $1.44 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in Check Point Software Technologies by 192.2% during the first quarter. Nisa Investment Advisors LLC now owns 30,938 shares of the technology company’s stock valued at $4,277,000 after buying an additional 20,350 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Check Point Software Technologies by 48.2% during the first quarter. Daiwa Securities Group Inc. now owns 8,417 shares of the technology company’s stock worth $1,164,000 after purchasing an additional 2,737 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Check Point Software Technologies by 9.5% during the first quarter. Park Avenue Securities LLC now owns 2,503 shares of the technology company’s stock worth $346,000 after purchasing an additional 217 shares during the period. Signaturefd LLC boosted its holdings in shares of Check Point Software Technologies by 10.5% during the first quarter. Signaturefd LLC now owns 3,063 shares of the technology company’s stock worth $423,000 after purchasing an additional 292 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Check Point Software Technologies by 17.5% in the first quarter. Steward Partners Investment Advisory LLC now owns 2,347 shares of the technology company’s stock worth $324,000 after buying an additional 349 shares during the period. Institutional investors own 67.03% of the company’s stock.
About Check Point Software Technologies
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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 security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.
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