Check Point Software Technologies (CHKP) shares have returned 28% year to date (YTD), outperforming the broader Zacks Computer and Technology sector's appreciation of 22.2%. CHKP shares have also outperformed the Zacks Computer – IT services industry, as well as its peers including Unisys (UIS) , Accenture (ACN) and Evolv Technologies (EVLV) . Over the same timeframe, shares of Unisys returned 0.7% while Accenture and Evolv dropped 3.3% and 6.3%, respectively. Industry appreciated 7.9%. Will Strong Billing ...

REDWOOD CITY, Calif., Sept. 20, 2024 (GLOBE NEWSWIRE) -- Check Point Software Technologies Ltd. (NASDAQ: CHKP), a leading cyber security platform provider of AI-powered, cloud delivered solutions, today announced that it has been named a Leader in the latest Frost & Sullivan Email Security Radar report. Check Point Harmony Email & Collaboration is recognized for its powerful technology that integrates advanced artificial intelligence (AI) with user-centric design to provide organizations with top-tier email ...

A month has gone by since the last earnings report for Check Point Software (CHKP) . Shares have added about 5.1% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Check Point due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Check Point Q2 Earnings & Revenues Beat E ...

Maskot Investment summary My recommendation for Check Point Software (NASDAQ:CHKP) is a buy rating. Growth is expected to continue to be robust as various operating points point to positive growth ahead, especially the accelerating billings growth, turnaround in the PNL segment, and new products becoming a sizeable portion of the business (indicating good demand). Business Overview CHKP is a cybersecurity company that offers a portfolio of network and gateway security solutions, data and endpoint security s ...

Over the past 90 days, the Zacks Consensus Estimate for CHKP's full-year earnings has moved 0.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger. Check Point Software is one of 617 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the group ...

Zacks Premium also includes the Zacks Style Scores. The Style Scores are broken down into four categories: Momentum Score How Style Scores Work with the Zacks Rank That's where the Style Scores come in. Stock to Watch: Check Point Software (CHKP) Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0 to $9.07 per share. CHKP also boasts an average earnings surprise of 2.2%. Developed alongside the Zacks Rank, the Zacks Sty ...

Check Point Software Technologies (CHKP) reported second-quarter 2024 results, wherein both the bottom and top lines surpassed the Zacks Consensus Estimate and improved year over year. The IT security solutions provider reported non-GAAP earnings of $2.17 per share, beating the Zacks Consensus Estimate of $2.16. The bottom line increased 8% from the year-ago quarter's earnings of $2 per share. Check Point's quarterly revenues increased 7% year over year to $627.4 million and surpassed the Zacks Consensus Es ...

gremlin Check Point (NASDAQ:CHKP) delivers collaborative security across an organization's architecture of the Network, Cloud and Workspace. It has performed slightly under the S&P 500 and Nasdaq 100 YTD. The company reported its Q2 FY24 earnings on July 24th, where revenue grew 7% YoY while operating profit remained flat YoY. While the company is seeing double-digit growth in its Product & Subscription revenues as it wins larger deals with global enterprises along with gaining market share in the public se ...

Financial Data and Key Metrics - Revenue grew by 7% to $627 million, $5 million above the midpoint of the projection [26] - Non-GAAP EPS grew by 8% to $2.17, $0.02 above the midpoint of the projection [26] - Net income grew by 4% to $246 million [28] - Operating cash flow grew by 5% to $200 million [28] - Deferred revenues grew by 2% to $1.880 billion, with short-term deferred revenues growing by 3% to $1.342 billion [11] - Calculated billing grew by 10% to $620 million, with current calculated billing growing by 7% to $622 million [11] Business Line Performance - Product and subscription revenues grew by 10%, marking a turnaround since the end of 2023 [155] - Infinity business showed strong double-digit growth in both bookings and revenues [155] - Harmony Email continued to perform strongly, becoming more significant to the business [13] - Quantum Force, a new gateway product, showed good demand and growth in bookings [150] Market Performance - All geographies showed double-digit growth in new business annualized bookings, though revenue growth typically lags by a few quarters [27] - Public sector saw significant success, with 92 government agencies in 32 countries adopting the Check Point platform [55] Strategic Direction and Industry Competition - The company is focusing on AI innovations, including AI Infinity Copilot, Threat Cloud AI, and Gen AI Protect, which will allow customers to monitor AI product usage [31] - The company is working on integrating SASE (Secure Access Service Edge) into a unified platform, aiming to provide a single solution for remote employees, site-to-site, cloud access, and data centers [84] - The company is seeing growth in core network security, with some competitors experiencing declines in this area [37] Management Commentary on Operating Environment and Future Outlook - Management is optimistic about the second half of the year, with a healthy pipeline and positive indicators for growth [42][43] - Cybersecurity remains a high priority for customers, with continued investment in the sector despite broader IT budget pressures [46] - The company expects to sustain double-digit growth in new business bookings, which should translate into higher revenue growth over time [41] Other Important Information - The company announced the appointment of Nadav as the new CEO, effective December, bringing extensive experience in cybersecurity and leadership [9][10] - The company expanded its buyback program by $2 billion, with up to $325 million per quarter [28] - The company is investing heavily in sales and marketing, with a focus on increasing productivity and new logo acquisition [80][89] Q&A Session Summary Question: How is the new CEO expected to impact the company's strategy? - Nadav is expected to bring a more outbound and charismatic leadership style, complementing the existing strengths of the company [19][34] - The focus will be on building on the existing strategy, with potential for more innovation, go-to-market changes, and M&A activity [96] Question: What is the outlook for Infinity and its contribution to billings? - Infinity is becoming increasingly significant, with 15% of business in terms of revenue and much higher in bookings [85] - The utilization of Infinity allowances is growing, but it can be lumpy depending on customer needs and payment terms [85][142] Question: How is the company addressing the competitive landscape in network security? - The company is seeing growth in core network security, with some competitors experiencing declines in this area [37] - The company is focusing on integrating its solutions into a unified platform, which is expected to provide a competitive advantage [84] Question: What are the expectations for EBIT and free cash flow growth? - The company expects to maintain a healthy operating margin between 42% to 43% for 2024 [136] - Free cash flow growth is expected to follow billing growth, with a 5% increase in operating cash flow this quarter [137] Question: How is the company leveraging AI in its products? - AI innovations such as AI Infinity Copilot and Gen AI Protect are currently providing competitive differentiation, with potential for future revenue impact [104] - The company is focused on using AI to enhance security and simplify management for customers [31]

For the quarter ended June 2024, Check Point Software (CHKP) reported revenue of $627.4 million, up 6.6% over the same period last year. EPS came in at $2.17, compared to $2.00 in the year-ago quarter. The reported revenue represents a surprise of +0.54% over the Zacks Consensus Estimate of $624 million. With the consensus EPS estimate being $2.16, the EPS surprise was +0.46%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determi ...