Check Point Software Tech Ltd Stock Price, News & Analysis

Check Point Software Technologies has launched the CyberUp accelerator program to bolster Israel's cybersecurity start-ups, enhancing market access and developing the local ecosystem. The initiative will support selected companies with established solutions beneficial to Check Point’s clients, fostering innovation and collaboration. The first cohort includes seven early-growth companies, demonstrating a commitment to the sector's growth. With a focus on customer engagement, the 16-week program offers exposure to global markets and key industry players, alongside marketing initiatives to increase visibility.

Check Point Software Technologies (NASDAQ: CHKP) has released its 2023 cyber-security predictions, highlighting significant challenges organizations will face, including a 28% increase in cyberattacks in Q3 2022 compared to 2021. The rise in threats is driven by ransomware and state-mobilized hacktivism. The company emphasizes the need for security infrastructure consolidation amid a widening global cyber workforce gap of 3.4 million. Key predictions include evolving malware, governmental regulations, and the necessity for simplified security measures to mitigate risks.

Check Point Research has revealed a significant rise in Lokibot attacks, which moved to third place among malware for the first time in five months. AgentTesla remained the most prevalent malware, affecting 7% of organizations globally. A new critical vulnerability, Text4Shell, impacting the Apache Commons Text library, was also disclosed. The Education/Research sector continues to be the most attacked industry, followed by Government/Military and Healthcare. The most commonly exploited vulnerabilities include Web Server Exposed Git Repository Information Disclosure, affecting 43% of organizations.

Check Point Software Technologies (NASDAQ: CHKP) reported strong financial results for Q3 2022, achieving $578 million in total revenue, an 8% year-over-year increase. Security subscription revenues surged to $216 million, a 13% increase, with deferred revenues reaching $1,647 million, also up 13%. GAAP EPS rose 5% to $1.47, while non-GAAP EPS increased 7% to $1.77. The company also announced the introduction of Horizon, a new security operations suite. CFO Tal Payne will take a six-month sabbatical, with VP finance Roei Golan stepping in.

Check Point Software Technologies (CHKP) has been named a leader in the 2022 GigaOm Radar Report for Cloud Security Posture Management (CSPM). This recognition comes due to its CloudGuard platform's innovative compliance framework monitoring and powerful automation capabilities, which enhance cloud security and operational efficiency. The report assesses CSPM solutions based on technical capabilities, showcasing Check Point's maturity and innovation. The company emphasizes its focus on preventing vulnerabilities in cloud deployments, further enhancing its standing in the cybersecurity landscape.

Check Point Research has published its Q3 2022 Brand Phishing Report, detailing the brands most frequently impersonated by cybercriminals. DHL topped the list, accounting for 22% of phishing attempts, followed by Microsoft at 16% and LinkedIn at 11%. This marks a significant shift from previous quarters. As the holiday shopping season approaches, Check Point warns that phishing scams may increase, particularly targeting shipping-related communications. Users are advised to verify delivery notifications directly through official websites.

Check Point Software Technologies has launched the Quantum Titan, an advanced cybersecurity platform. This release utilizes AI and deep learning to enhance IoT security and combat sophisticated threats, including zero-day phishing attacks and DNS exploits. Quantum Titan features three innovative software blades, providing five times more DNS attack prevention and four times more effectiveness against phishing than traditional methods. The platform will be generally available in November 2022, promising faster response times and smarter protection for complex networks.

Check Point Software Technologies (NASDAQ: CHKP) has been recognized as a leader in The Forrester Wave™: Enterprise Firewalls, Q4 2022 report. Forrester praises Check Point for its innovative threat prevention technologies and exceptional user interface. The report highlights Check Point's effective use of AI and machine learning in combating sophisticated cyber threats. Additionally, the company's Quantum Intrusion Prevention System is noted for superior performance. Check Point continues to excel in customer support and usability, maintaining strong operational integrity during the pandemic.