Check Point Software Tech Ltd Stock Price, News & Analysis

Check Point Software Technologies (NASDAQ: CHKP) has launched Check Point Quantum SD-WAN, a new cybersecurity solution designed to protect branch offices from advanced cyberattacks. This product delivers optimized connectivity while maintaining high security standards by blocking 99.7% of malware and phishing threats. It combines SD-WAN technology with robust security protocols, ensuring uninterrupted service for over 10,000 applications. Designed for organizations transitioning to cloud connectivity, this solution aims to balance speed and security effectively, mitigating risks associated with direct internet access.

Check Point Research released its Global Threat Index for January 2023, highlighting that the infostealer Vidar returned to the top ten list in seventh place. This resurgence was linked to increased instances of brandjacking. Additionally, a major campaign named Earth Bogle spread njRAT malware across the Middle East and North Africa through phishing emails. The research identified that the top exploited vulnerability was the Web Server Exposed Git Repository Information Disclosure, affecting 46% of organizations worldwide. The report underscores the importance of vigilance against phishing and malware threats.

Check Point Software Technologies has expanded its share repurchase program by $2.0 billion, allowing for quarterly repurchases of up to $325 million. This continued initiative follows the repurchase of approximately 204 million shares for a total of $13 billion since the program's inception. As of December 31, 2022, the company had about 120.8 million shares outstanding. The program, which may be conducted through various methods including open market transactions, reflects Check Point's commitment to enhancing shareholder value. Funding for repurchases will come from available working capital.

Check Point Software Technologies reported its Q4 and full-year 2022 financial results on February 13, 2023. Q4 revenues reached $638 million, a 7% increase year-over-year, with security subscription revenues at $231 million, up 13%. Full-year revenues were $2,330 million, up 8%. GAAP EPS for Q4 was $2.20, an 11% increase, while full-year GAAP EPS was $6.31, a 4% increase. Deferred revenues increased by 10% to $1,878 million. The company also authorized a $2 billion share repurchase program, continuing its commitment to returning value to shareholders.

Check Point Software Technologies (NASDAQ: CHKP) has launched Horizon XDR/XPR, a new cybersecurity solution aimed at preventing cyber threats by intelligently correlating data. Announced at CPX 360 on February 9, 2023, this integrated platform focuses on proactive prevention across all vectors, including email, cloud, networks, and endpoints. Unlike traditional detection-centric solutions, Horizon XDR/XPR shifts the paradigm to prioritize prevention, aiming to minimize the impact of cyberattacks. The solution promises comprehensive threat protection, streamlined management, and collaborative security operations, making it a significant advancement in the cybersecurity sector.

Check Point Research has released its 2023 Security Report, revealing a significant rise in cyberattacks, marking a 38% increase in 2022 over the prior year. Weekly attacks averaged 1,168 per organization. Notably, the healthcare sector experienced a 74% increase in attacks. The report highlights trends such as the rise of organized hacktivism, evolving ransomware tactics focusing on data wiping, and a 48% surge in attacks on cloud networks. Recommendations for Chief Information Security Officers (CISOs) include simplifying security operations and enhancing cybersecurity awareness among employees.

Check Point Software Technologies has been recognized as a leader in the Frost Radar™ Global Cloud Native Application Protection Platform (CNAPP) 2022 report. The company is commended for its innovation and research in cloud security, particularly its fully integrated DevOps security.

Over the past two years, Check Point CloudGuard has enhanced its CNAPP solution, providing comprehensive protection for cloud assets and applications. The platform's shift-left security allows enterprises to address issues before production. This recognition highlights Check Point's strong growth strategy and commitment to delivering advanced cybersecurity solutions.

Check Point Software Technologies (NASDAQ: CHKP) announced its Quantum Cyber Security Platform achieved remarkable results in Miercom’s 2023 NGFW Security Benchmark report, recording a 99.7% malware block rate and 99.9% phishing prevention rate. This performance significantly surpasses competitors like Palo Alto Networks and Cisco, where average malware block rates were around 54.1%. The Quantum platform also boasts an ultra-low 0.1% false positive rate, ensuring high accuracy in threat detection. These accolades affirm Check Point's market leadership in advanced threat prevention, particularly as global cyberattacks surged by 38% in 2022.

Check Point Software Technologies (NASDAQ: CHKP) unveiled enhanced features for its CloudGuard Cloud Native Application Protection Platform (CNAPP), including a new risk management engine. These improvements focus on intelligent risk prioritization, agentless scanning, entitlement management, and pipeline security, aimed at streamlining and automating cloud security processes. In a market where 72% of organizations express extreme concern about cloud security, the new capabilities aim to mitigate risks associated with misconfigurations and improve visibility. With accelerating cloud adoption, Check Point emphasizes the need for effective risk management in securing cloud environments.