Why Check Point Software Technologies Stock Dropped 11.4% in November

Why Check Point Software Technologies Stock Dropped 11.4% in November

Shares of Check Point Software Technologies Ltd. (NASDAQ: CHKP) fell 11.4% in November, according to data from S&P Global Market Intelligence, after the cybersecurity specialist posted reasonably strong quarterly results, but followed with disappointing forward sales guidance.

Nearly all of CheckPoint Software's decline last month came on Nov. 1 alone -- the first trading day after the company announced third-quarter 2017 results. More specifically, Check Point's quarterly revenue climbed 6% year over year to $455 million -- near the high end of the company's projections -- which translated to better-than-expected 15% growth in adjusted earnings per share, to $1.30. 

IMAGE SOURCE: CHECK POINT SOFTWARE.

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Source: Fool.com