Shares of cybersecurity provider Check Point Software Technologies (NASDAQ:CHKP) are up almost 9% today. This can be attributed to its earnings report for the third quarter of Fiscal Year 2022. Adjusted earnings per share came in at $1.77, which beat analysts’ consensus estimate of $1.67 per share. Sales increased by 8% year-over-year, with revenue hitting $578 million. This also beat analysts’ expectations of $571.8 million.
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Looking forward, management expects fourth-quarter revenue and adjusted EPS to be in the ranges of $608 million to $658 million and $2.22 to $2.42, respectively. For reference, analysts had expected revenue of $630.8 million and EPS of $2.33.
Is CHKP Stock a Good Buy?
CHKP has a Moderate Buy consensus rating based on five Buys, five Holds, and one Sell assigned in the past three months. The average CHKP stock price target of $135.27 implies 6.65% upside potential.
