Check Point Software Technologies Ltd. (NASDAQ:CHKP) to Post Q1 2023 Earnings of $1.48 Per Share, Jefferies Financial Group Forecasts

Check Point Software Technologies Ltd.  (NASDAQ:CHKP) to Post Q1 2023 Earnings of $1.48 Per Share, Jefferies Financial Group Forecasts

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Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) – Equities research analysts at Jefferies Financial Group reduced their Q1 2023 earnings per share (EPS) estimates for Check Point Software Technologies in a report issued on Tuesday, February 14th. Jefferies Financial Group analyst J. Gallo now forecasts that the technology company will post earnings per share of $1.48 for the quarter, down from their previous forecast of $1.54. Jefferies Financial Group currently has a “Buy” rating and a $150.00 target price on the stock. The consensus estimate for Check Point Software Technologies’ current full-year earnings is $6.97 per share. Jefferies Financial Group also issued estimates for Check Point Software Technologies’ Q2 2023 earnings at $1.59 EPS, Q3 2023 earnings at $1.81 EPS, Q4 2023 earnings at $2.10 EPS, FY2023 earnings at $6.98 EPS, Q2 2024 earnings at $1.81 EPS and Q4 2024 earnings at $2.23 EPS.

Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last posted its quarterly earnings results on Monday, February 13th. The technology company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.09. The firm had revenue of $638.50 million during the quarter, compared to analyst estimates of $636.24 million. Check Point Software Technologies has a return on equity of 27.22% and a net margin of 34.20%. Check Point Software Technologies’ quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.02 EPS.

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Several other research firms have also issued reports on CHKP. Piper Sandler lifted their price target on Check Point Software Technologies from $125.00 to $130.00 in a research report on Thursday, January 5th. Wells Fargo & Company raised Check Point Software Technologies from an “underweight” rating to an “equal weight” rating and set a $130.00 price target for the company in a research report on Tuesday, January 17th. Sumitomo Mitsui Financial Group downgraded Check Point Software Technologies from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $125.00 to $120.00 in a report on Thursday. Truist Financial lifted their price objective on Check Point Software Technologies from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Mizuho lifted their price objective on Check Point Software Technologies from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, October 28th. Four equity research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $139.52.

Check Point Software Technologies Price Performance

CHKP opened at $124.96 on Friday. The stock has a 50-day moving average price of $127.92 and a 200-day moving average price of $123.85. The firm has a market cap of $15.67 billion, a PE ratio of 19.74, a P/E/G ratio of 2.50 and a beta of 0.68. Check Point Software Technologies has a 1 year low of $107.54 and a 1 year high of $149.62.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Trifecta Capital Advisors LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter valued at approximately $28,000. Resurgent Financial Advisors LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter valued at approximately $28,000. SeaCrest Wealth Management LLC bought a new position in shares of Check Point Software Technologies during the 2nd quarter valued at approximately $33,000. Lindbrook Capital LLC lifted its holdings in Check Point Software Technologies by 66.0% in the 4th quarter. Lindbrook Capital LLC now owns 259 shares of the technology company’s stock worth $33,000 after purchasing an additional 103 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Check Point Software Technologies by 86.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 339 shares of the technology company’s stock worth $43,000 after purchasing an additional 157 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors.

Check Point Software Technologies Company Profile

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

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