Check Point Software Tech Ltd Stock Price, News & Analysis

Check Point Research has released its Global Threat Index for August 2022, revealing that FormBook is now the most prevalent malware, impacting 5% of organizations. This infostealer targets Windows OS and is marketed as Malware as a Service. The Android spyware Joker ranks third in mobile malware, reportedly signing users up for services without consent. The Apache Log4j Remote Code Execution vulnerability leads all exploited vulnerabilities, affecting 44% of organizations. The Education/Research sector is still the most targeted by cybercriminals.

Check Point Software Technologies (NASDAQ: CHKP) has launched Check Point Horizon, a new cyber security suite focused on prevention. This platform includes Managed Prevention and Response (MDR), Extended Prevention and Response (XDR), and a comprehensive events capability, designed to improve defenses across networks, clouds, and endpoints. The launch comes in response to a reported 42% increase in global cyberattacks, with ransomware now being the top threat. Check Point Horizon already serves 120 active customers worldwide and aims to streamline security operations while reducing costs.

Check Point Software Technologies (NASDAQ: CHKP) announced that Clarks, a global shoe company, has revamped its cybersecurity with Check Point's solutions, including Infinity Unified Management and Quantum. This overhaul was crucial during the pandemic, facilitating secure remote work and enhancing threat prevention. Clarks reduced security management workload by over 50% and eliminated multiple vendors, leading to significant cost savings while improving visibility and protection against sophisticated cyber threats. The collaboration showcased Check Point's advanced threat prevention capabilities.

Check Point Software Technologies (CHKP) has collaborated with Intel to integrate its Check Point Quantum IoT Protect within Intel's new platform, Intel Pathfinder for RISC-V. This partnership aims to enhance cybersecurity for IoT devices, which often lack adequate security due to limited processing resources. Check Point's solution offers real-time protection against sophisticated attacks, including zero-day vulnerabilities, ensuring robust security without compromising device performance. The collaboration underscores the importance of cybersecurity in IoT product development and aims to address the increasing threats faced by such devices.

On August 30, 2022, Check Point Software Technologies (NASDAQ: CHKP) announced that shareholders approved all four proposals during the 2022 Annual General Meeting. Approximately 98.3 million shares, or 78.4% of outstanding shares, were voted. The company expressed gratitude for the support and confidence shown by its shareholders.

For further details on the proposals, interested parties can refer to the company's proxy statement for the annual meeting.

Check Point Research reveals in its latest report that Emotet remains the most prevalent malware, despite a 50% decline in global impact. The report indicates that Emotet's enhancements, including a new credit card stealer module, continue to pose significant threats. In July 2022, Snake Keylogger dropped in rank, reflecting Microsoft’s recent decision to block macros by default. The most exploited vulnerabilities were 'Web Server Exposed Git Repository Information Disclosure' impacting 42% of organizations and 'Apache Log4j Remote Code Execution' affecting 41%. Educational sectors were the top targets for cyberattacks.

Check Point Research released its ‘Cyber Attack Trends: 2022 Mid-Year Report’, revealing the growing threat of cyberattacks as a state-level weapon, alongside the rise of ransomware as the primary threat facing organizations. Key predictions for H2 2022 include a fragmented ransomware ecosystem, diverse email infection methods, and evolving hacktivism aligned with nation-state agendas. The report highlights significant attacks on decentralized blockchain networks and the anticipated initial cyber incidents in the Metaverse, emphasizing the urgent need for robust cybersecurity measures.

Check Point Software Technologies Ltd. (NASDAQ: CHKP) reported strong financial results for Q2 2022, achieving total revenues of $571 million, up 9% year over year. Product & License revenues rose to $133 million (12% increase) while Security Subscription revenues reached $210 million (14% increase). Deferred revenues increased 13% to $1,666 million. However, GAAP EPS fell to $1.36, a 1% decline, while Non-GAAP EPS rose 2% to $1.64. The company’s strong cash position stood at $3,676 million.

Check Point Research has released its Q2 2022 Brand Phishing Report, identifying brands most often targeted by cybercriminals. Notably, LinkedIn topped the list with 45% of phishing attempts, despite a slight decline from 52% in Q1. Microsoft surged to 13%, doubling its phishing attempts, while DHL followed closely with 12%. New entrants to the top brands included Adidas, Adobe, and HSBC. The report emphasizes the need for users to be vigilant against phishing scams that exploit trusted brands.