company
Check Point
-1.25%
closure:0
opening:125.54
High:126.19
low:123.93
cycle:—
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again bypassing the predictions. The company reports revenues of 571 million dollars, above the expectation of 560.3 million, in the bottom line it reports a profit per share of 1.64 dollars, above the expectation of 1.62 dollars per share. The net profit itself was 209 million dollars, a decrease compared to 217 million in the corresponding quarter. Check Point continues to buy back its own shares – BuyBack – in a large volume. In the second quarter it is a buyback of 325 million dollars. (By the way, as a result – the company increases its profit per share). As of the end of the second quarter of 2022, the company has cash in the amount of $3.7 billion – which it is expected to continue to invest in its own share purchase.
It should be noted that even though Check Point is a growth company, the market sees it as more of a value stock: when the market surged it was left behind and in the last six months when the market was falling it was rising. There is a shift of funds from growth stocks to value stocks. One of the reasons is that own purchase, buyback, of shares, which increase the profit per share. It is actually another form of dividend for investors.
In the previous quarter, Check Point beat analysts’ forecasts – earning $1.58 per share compared to expectations for $1.54 per share. Revenues in the first quarter amounted to 543 million dollars, a growth of 6.9% compared to the corresponding quarter and in accordance with forecasts.
Check Point is enjoying the beginning of the year by receiving the sympathy of investors and while the technology stocks fell, it rose. Investors see the young cyber companies collapsing on a background of equals in the space while Check Point provides results that show solid growth, but it is a profitable company that trades at a profit multiple of about 15-17 excluding the cash in the coffers. The young competitors are multiplied many times over and among them are also losing companies.
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