NEW YORK (TheStreet) --Shares of Check Point Software Technologies (CHKP) - Get Report were gaining 8.2% to $85.17 after the security software company beat analysts' estimates for earnings and revenue in the second quarter.
Check Point Software reported earnings of 99 cents a share for the second quarter, above analysts' estimates of 95 cents a share. Revenue grew 8.9% year over year to $395 million for the quarter, beating analysts' estimates of $392.58 million.
The company said it expects to report earnings of 92 cents to $1.02 a share and revenue of $392 million to $410 million for the third quarter. Analysts expect Check Point Software to report earnings of 97 cents a share on revenue of $403.1 million for the third quarter.
About 1.7 million shares of Check Point Software were traded by 10:18 a.m. Wednesday, above the company's average trading volume of about 1.4 million shares a day.
Separately, TheStreet Ratings team rates CHECK POINT SOFTWARE TECHN as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CHECK POINT SOFTWARE TECHN (CHKP) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."
You can view the full analysis from the report here: CHKP Ratings Report