Check Point Software Technologies Ltd. CHKP reported first-quarter 2021 results, wherein both top and bottom lines beat the Zacks Consensus Estimate. The company’s non-GAAP earnings per share of $1.54 beat the consensus mark of $1.49. The figure also climbed 9% year over year.Revenues for the reported quarter came in at $508 million, up 4% year on year. Moreover, the figure exceeded the Zacks Consensus Estimate of $502 million. Double-digit growth in CloudGuard contributed to the upside.Check Point Software Technologies Ltd. Price, Consensus and EPS Surprise Check Point Software Technologies Ltd. price-consensus-eps-surprise-chart | Check Point Software Technologies Ltd. QuoteQuarter DetailsSubscription revenues came in at $177.4 million, increasing 11.7% year over year on solid demand for its advanced solutions, primarily CloudGuard, Sandblast Zero-day threat prevention and Infinity solutions.However, revenues of $161 million from products and licenses edged down 1%. Products are currently in the process of transitioning to cloud solutions, which are included in the subscription line.Total revenues from product and security subscriptions came in at $286.7 million, up 6.58% year on year.Software update and maintenance revenues increased to $220.9 million from $217.5 million reported in the year-ago quarter.As of Mar 31, 2021, deferred revenues were $1.08 billion, down 2.7% year over year.Non-GAAP operating income for the reported quarter came in at $246 million, up 6.5% year over year. Non-GAAP operating margin expanded 100 bps to 49%.Balance Sheet & Other Financial DetailsCheck Point exited the first quarter with cash and cash equivalents, marketable securities and short-term deposits of $4.1 billion compared with the previous quarter’s $4 billion.The company generated cash worth $374.5 million from operational activities during the first quarter.It repurchased 2.7 million shares for about $325 million during the March-end quarter.Zacks Rank & Other Stocks to ConsiderCheck Point currently carries a Zacks Rank #3 (Hold).A few other top-ranked stocks in the broader technology sector are NVIDIA Corporation NVDA, Micron Technology, Inc. MU and Etsy, Inc. ETSY, each sporting a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The long-term earnings growth rate for NVIDIA, Micron and Etsy is currently pegged at 15.05%, 15.66% and 19.43%, respectively.Zacks' Top Picks to Cash in on Artificial IntelligenceIn 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create ""the world's first trillionaires."" Zacks' urgent special report reveals 3 AI picks investors need to know about today. See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Check Point Software Technologies Ltd. (CHKP): Free Stock Analysis Report Micron Technology, Inc. (MU): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Etsy, Inc. (ETSY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research