These Analysts Cut Their Forecasts On Check Point Software Technologies After Q2 Results
Check Point Software Technologies Ltd. (NASDAQ:CHKP) reported upbeat earnings for the second quarter on Wednesday.
The company posted quarterly earnings of $2.37 per share which beat the analyst consensus estimate of $2.36 per share. The company reported quarterly sales of $665.200 million which beat the analyst consensus estimate of $661.751 million.
“We delivered solid second-quarter results, driven by growth in our emerging technologies portfolio including Email, SASE, and Enterprise Risk Management. Quantum Force appliances continued a double-digit growth trajectory, reflecting strong customer trust in our innovation and prevention-first ethos,” said CEO Nadav Zafrir. “We continued to advance our strategic roadmap with the acquisition of Veriti, strengthening the Infinity platform’s open-garden architecture. The third quarter is shaping up well with strong July indicators. We have a healthy pipeline heading into the second half of the year underscoring our full-year outlook.”
Check Point Software shares fell 1.3% to trade at $184.30 on Thursday.
These analysts made changes to their price targets on Check Point Software following earnings announcement.
- Cantor Fitzgerald analyst Jonathan Ruykhaver maintained Check Point Software with a Neutral and lowered the price target from $230 to $220.
- Stephens & Co. analyst Todd Weller maintained the stock with an Equal-Weight rating and lowered the price target from $229 to $210.
- UBS analyst Roger Boyd maintained Check Point Software with a Neutral and lowered the price target from $220 to $210.
- Morgan Stanley analyst Hamza Fodderwala maintained the stock with an Equal-Weight rating and lowered the price target from $230 to $215.
- RBC Capital analyst Matthew Hedberg maintained Check Point Software with a Sector Perform and lowered the price target from $224 to $207.
- Wells Fargo analyst Andrew Nowinski maintained the stock with an Overweight rating and lowered the price target from $265 to $225.
- Barclays analyst Saket Kalia maintained Check Point Software with an Equal-Weight rating and cut the price target from $245 to $215.
- Scotiabank analyst Patrick Colville maintained the stock with a Sector Outperform and cut the price target from $240 to $220.
Considering buying CHKP stock? Here’s what analysts think:
Read This Next:
Photo via Shutterstock