Check Point Software Technologies, a leading IT security company, recently provided an update on its fourth quarter 2024 earnings forecast. The company expects to earn between $2.600 and $2.700 per share, slightly below the consensus estimate of $2.650. In terms of revenue, Check Point Software Technologies anticipates generating between $675.0 million and $715.0 million, compared to the consensus estimate of $698.6 million. The company also revised its full-year 2024 guidance to $9.050-$9.150 in earnings per share.
Several equity analysts have shared their insights on Check Point Software Technologies. BMO Capital Markets raised their price target from $200.00 to $238.00, maintaining a “market perform” rating. Jefferies Financial Group also increased their price target from $210.00 to $225.00, giving the company a “buy” rating. On the other hand, Robert W. Baird lowered their price target to $205.00 and assigned a “neutral” rating. Overall, the company has received a mix of hold and buy ratings from analysts, with an average price target of $197.74.
In terms of stock performance, Check Point Software Technologies traded down to $170.50 on Friday. The company has a market cap of $18.75 billion, a P/E ratio of 23.29, and a beta of 0.63. Check Point Software Technologies’ 12-month low is $134.72, while the high is $210.70. The company’s 50-day simple moving average is $194.47, and the 200-day simple moving average is $174.87.
Check Point Software Technologies specializes in developing, marketing, and supporting IT security products and services globally. The company’s offerings include a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. They provide the Check Point Infinity Architecture, a cybersecurity framework that safeguards against fifth-generation cyber-attacks across various networks, endpoints, cloud, workloads, Internet of Things, and mobile devices.
While analysts have given Check Point Software Technologies a “Hold” rating, there are other stocks that top analysts recommend as better buys. It’s essential to consider all factors before making investment decisions. High-yield dividend stocks may seem attractive, but it’s crucial to assess the sustainability of their earnings to avoid potential pitfalls.
In conclusion, Check Point Software Technologies’ update on its earnings forecast provides valuable insights for investors and analysts alike. With a mix of ratings and price targets from analysts, it’s crucial for investors to conduct thorough research before making investment decisions in the ever-evolving IT security industry.
