Analysts on Wall Street project that Check Point Software (CHKP) will announce quarterly earnings of $2.19 per share in its forthcoming report, representing an increase of 7.4% year over year. Revenues are projected to reach $636.42 million, increasing 6.3% from the same quarter last year.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
With that in mind, let's delve into the average projections of some Check Point metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus among analysts is that 'Revenues- Total revenues from products and security subscriptions' will reach $396.29 million. The estimate indicates a change of +9% from the prior-year quarter.
Analysts' assessment points toward 'Revenues- Software updates and maintenance' reaching $238.95 million. The estimate points to a change of +1.6% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenues- Products and licenses' should arrive at $104.73 million. The estimate points to a change of +4.4% from the year-ago quarter.
The average prediction of analysts places 'Revenues- Security Subscriptions' at $292.02 million. The estimate indicates a change of +10.9% from the prior-year quarter.
View all Key Company Metrics for Check Point here>>>
Over the past month, shares of Check Point have returned -5.7% versus the Zacks S&P 500 composite's -5.6% change. Currently, CHKP carries a Zacks Rank #2 (Buy), suggesting that it may outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Check Point Software Technologies Ltd. (CHKP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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