Check Point Software Tech Ltd Stock Price, News & Analysis

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.

Check Point Software Technologies (NASDAQ: CHKP) has launched a new Managed Security Service Providers (MSSPs) Program aimed at reducing administrative burdens while enhancing partner profitability through a services-led approach. The program features the Horizon MDR/MPR solution, allowing co-branding opportunities and access to Check Point’s integrated security portfolio. As the managed security services market is projected to reach $53.2 billion by 2031, Check Point emphasizes its commitment to evolving with market demands by investing in operational improvements, training, and expert support for partners.

Check Point Research has released its Global Threat Index for September 2022, highlighting significant shifts in malware prevalence and cyberattack patterns. The infostealer Vidar has made an entry into the top ten malware list, ranking eighth, following a fake Zoom campaign. Eastern European countries, particularly Ukraine, Poland, and Russia, have seen a marked increase in cyber threats, with Ukraine’s threat rank escalating by 26 places. The Education/Research sector remains the most targeted globally, with 43% of organizations affected by the “Web Server Exposed Git Repository” vulnerability.

Check Point Software Technologies (NASDAQ: CHKP) released findings from a survey by Analysys Mason, revealing that many small and medium-sized businesses (SMBs) are unprepared for rising cyber risks despite increased IT spending. The survey highlighted that 28% of SMBs report revenue loss due to cyberattacks, and only 22% feel protected. While investments in technology have increased for hybrid working, the lack of cybersecurity expertise remains a significant challenge. SMBs need to reassess their security budgets and consider partnerships with Managed Service Providers for better protection.