Check Point Software Technologies Ltd. · CHKP · FY2025 Q3 · Calendar Q4 2025

Check Point Q3: Billings Growth and Higher Revenue Outlook

The quarter’s 20% calculated-billings growth, revenue growth and raised revenue outlook support a constructive near-term operating picture. Whether that momentum is durable depends on recurring-revenue visibility, the hardware refresh cycle, and the company’s ability to manage foreign-exchange and acquisition-related margin pressure.

Reported Before market openNASDAQTechnology $15.53B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $3.94 Consensus $2.45
EPS surprise +60.8% Reported versus consensus
Reported revenue $677.5M Consensus $673.2M
Revenue surprise +0.6% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +6.2% Event window
SPY move +0.3% Same window
Abnormal move +5.9% Stock minus SPY
Volume 3.4× Versus trailing sessions
Subsequent drift -8.7% Up to 20 sessions
CHKPSPY benchmark

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Why did CHKP rise 6.2% after beating EPS estimates in FY2025 Q3?What changed in CHKP's guidance and outlook in FY2025 Q3?Give me the bull and bear case for CHKP after FY2025 Q3 earnings.

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Transcript intelligence

What changed

Compared with the prior-quarter analysis, which described revenue guidance as maintained, the current quarter’s analysis reports that management raised the 2025 revenue-guidance midpoint by $15 million. Current analysis also emphasizes 20% calculated-billings growth and the completed Lakera acquisition.

Guidance delta

Management raised the midpoint of 2025 revenue guidance by $15 million. The supplied analysis notes modest FX and Lakera-related margin headwinds in Q4 and 2026.

Key takeaways

  • Calculated billings grew 20% year over year; revenue increased 7% to $678 million.
  • Management raised the 2025 revenue-guidance midpoint by $15 million.
  • Operating cash flow was $241 million, up 23%; share repurchases totaled $325 million.
  • The quarter’s positive growth signals coexist with anticipated FX and acquisition-related margin pressure.

Management priorities

  • Integrate Lakera into an AI-security offering and expand AI-focused products.
  • Scale SASE and hybrid-mesh offerings through product development and hiring.
  • Build go-to-market capacity, including marketing and leadership hires.
  • Explore consumption-based pricing for SASE and AI services.

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Earnings History

Estimate Beat Miss Match
CHKP EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q4 '23 estimate $2.48 Q4 '23 actual $2.57, beat Q1 '24 estimate $2.00 Q1 '24 actual $2.04, beat Q2 '24 estimate $2.16 Q2 '24 actual $2.17, match Q3 '24 estimate $2.25 Q3 '24 actual $2.25, match Q2 '25 estimate $2.36 Q2 '25 actual $2.37, match Q3 '25 estimate $2.45 Q3 '25 actual $3.94, beat Q4 '25 estimate $2.77 Q4 '25 actual $3.40, beat Q1 '26 estimate $2.41 Q1 '26 actual $2.50, beat Q2 '26 estimate $2.45 Q2 '26 actual $2.55, beat Q3 '26 estimate $2.48 Q3 '26 actual $2.49, match Q4 '26 estimate $2.91 Q1 '27 estimate $2.65 Q2 '27 estimate $2.72 Q3 '27 estimate $2.75
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Analyst Consensus ?

ConsensusHold62 ratings
Bullish2641.9%
Neutral3150.0%
Bearish58.1%

Analyst 52W Price Targets

$141.5Current
$105Low
$155.21Average
$240High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 3, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Jefferies Buy BuyMaintainOct 28, 2026
Cantor Fitzgerald Neutral NeutralMaintainOct 26, 2026
Mizuho Neutral NeutralMaintainOct 15, 2026
Goldman Sachs Neutral NeutralMaintainAug 3, 2026
Citigroup Neutral NeutralMaintainAug 3, 2026
Show 57 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $141.5. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Stifel NicolausAdam Borg$148$141.5 +4.6%Nov 2, 2026
JefferiesAnalyst unavailable$185$159.84 +30.7%Oct 27, 2026
UBSRoger Boyd$145$138.3 +2.5%Oct 15, 2026
Mizuho SecuritiesAnalyst unavailable$145$134.08 +2.5%Oct 15, 2026
WedbushAnalyst unavailable$135$130.51 -4.6%Sep 10, 2026
See 110 more

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Company context

Snapshot as of publication

Check Point Software Technologies Ltd. is a global provider specializing in the development, marketing, and support of comprehensive information technology security solutions. Their extensive portfolio addresses critical areas such as network, endpoint, and data security, alongside various management tools. A cornerstone of their offerings is the Check Point Infinity Architecture, a unified cybersecurity framework engineered to combat advanced 5th and 6th generation cyber threats. This architecture provides robust protection across a diverse range of environments, including traditional networks, individual endpoints, cloud infrastructures, workloads, Internet of Things (IoT) devices, and mobile platforms. The company also supplies powerful security gateways and sophisticated software platforms, scalable to meet the needs of organizations from small and medium-sized businesses (SMBs) up to large enterprise data centers and telecommunications-grade environments.…

Historical context

All CHKP earnings
-2.4%FY2026 Q3 · Calendar Q4 2026-8.2%FY2026 Q2 · Calendar Q3 2026-19.6%FY2026 Q1 · Calendar Q2 2026

Technology peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
TSEM Tower Semiconductor Ltd. FY2026 Q3 · Calendar Q4 2026 — -6.7% Tower Semiconductor Q3: record results, capacity expansion
INTC Intel Corp. FY2026 Q3 · Calendar Q4 2026 +27.9% -28.6% Intel: AI Server Demand Offsets PC Weakness, CapEx Rises
GDDY GoDaddy Inc. FY2026 Q3 · Calendar Q4 2026 +9.5% +10.7% GoDaddy: Airo accelerates while guidance is maintained

Latest beats and misses

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Missed on EPS

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars · 2026-11-03T01:00:48.511474+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-03T01:00:48.508699+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-11-03. For educational purposes only; not investment advice.