Thursday, July 18, 2013
Check Point releases Q2 earnings
Earlier today, Check Point Software Technologies Ltd. announced its financial results for the second quarter which ended June 30, 2013. They reported Revenue of $340.2 million, which is a 4 percent increase year over year, beating analysts estimates of $337.22 million. Analysts also expected EPS of $0.81, Check Point reported an EPS of $0.83 which beats expectations by 2 cents and represents an 8 percent increases year over year. Due to their new highs on Q2 results, CHKP opened higher on Thursday and has continued to climb during early trade. The stock is now up 2.66 at $56.16, which, even though we hold no positions, is well above our stop loss of $43 and slowly climbing closer to our price target of $67. Gil Shwed, founder, chairman, and CEO of Check Point, was very pleased with their positive second quarter results, which was highlighted by their excellent sequential growth in their product sales. Going forward we will see more and more low-end appliances designed to meet the security needs of small businesses and branch offices, which many analysts think will continue to grow the company and drive the stock price due to their favorable quarterly reports.