CHKP's third-quarter 2024 results reflect benefits from the strong demand for the Infinity platform.
I maintain a buy rating on Check Point Software (CHKP) due to strong product revenue growth and healthy demand. CHKP's 3Q24 results showed 6.5% y/y revenue growth, aligning with expectations, driven by solid performance in products, subscriptions, and maintenance. The billings miss is attributed to deal slippages, not demand deterioration.
Could Check Point be undervalued today? Here's how the cybersecurity expert hit every third-quarter target and still suffered a share price correction.
Check Point Software Technologies Ltd. (NASDAQ:CHKP ) Q3 2024 Earnings Conference Call October 29, 2024 8:30 AM ET Company Participants Kip Meintzer – Head-Global Investor Relations Roei Golan – Chief Financial Officer Gil Shwed – Founder and Chief Executive Officer Conference Call Participants Shaul Eyal – TD Cowen Adam Tindle – Raymond James Tal Liani – BofA Merrill Lynch Joseph Gallo – Jefferies Brad Zelnick – Deutsche Bank Rob Owens – Piper Sandler Roger Boyd – UBS Investment Bank Hamza Fodderwala – Morgan Stanley Shyam Patil – Susquehanna Financial Group Gabriela Borges – Goldman Sachs Saket Kalia – Barclays Joel P.
While the top- and bottom-line numbers for Check Point (CHKP) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Check Point Software (CHKP) came out with quarterly earnings of $2.25 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $2.07 per share a year ago.
We have narrowed our search to three large-cap stocks set to report earnings results tomorrow. These are: NVS, RDDT, CHKP.
Here is how Check Point Software (CHKP) and Cirrus Logic (CRUS) have performed compared to their sector so far this year.
Beyond analysts' top -and-bottom-line estimates for Check Point (CHKP), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended September 2024.
Check Point (CHKP) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
This cybersecurity stock has gained impressive momentum in the past three months, and it seems capable of delivering more upside.
CHKP shares benefit from acquisitions and expanding public sector clientele. However, stretched valuation is a concern.