Typically, when a publicly traded enterprise loses 14% of equity value, it's a strong sign to avoid that name. However, an exception could be arguably made for cybersecurity giant Check Point Software Technologies Ltd (NASDAQ:CHKP). Despite delivering an earnings beat for the second quarter, Check Point suffered an exodus of investors as they read between the lines. Still, it's very possible that the selloff in CHKP stock could be overdone.
In terms of headline numbers, Check Point posted earnings per share of $2.37. This figure landed at the midpoint of management's guidance but was 6.28% above analysts' estimated EPS of $2.36. In the year-ago quarter, the company posted earnings of $2.17 per share. On the top line, the cybersecurity giant rang up $665.2 million, above the midpoint guidance of $662 million. Analysts anticipated sales of $661.75 million.
