Check Point Software Tech Ltd Stock Price, News & Analysis

Check Point Software Technologies Ltd. (NASDAQ: CHKP) reported financial results for Q1 2021, with total revenues of $508 million, marking a 4% year-over-year increase. The company achieved GAAP EPS of $1.33, an 8% increase from last year, and non-GAAP EPS of $1.54, a 9% increase. Deferred revenues rose to $1.458 billion, up 8% year-over-year. Check Point emphasized the success of its CloudGuard technologies amid heightened cyber threats. Additionally, the company repurchased 2.7 million shares for $325 million.

Check Point Software Technologies (NASDAQ: CHKP) announced that its endpoint security solution, Harmony Endpoint, achieved a 100% detection rate in the recent MITRE ATT&CK Endpoint Protection Product Evaluation. Furthermore, it attained the highest technique detection level for 96% of unique techniques tested. This evaluation showcases Harmony Endpoint's comprehensive threat detection capabilities against sophisticated threats from groups like Carbanak and FIN7, which have caused over $1 billion in theft. The results affirm the solution's effectiveness in enhancing cybersecurity for businesses globally.

Check Point Research released its Q1 2021 Brand Phishing Report, revealing trends in phishing targeting major brands. In this quarter, Microsoft was the most imitated brand at 39%, followed by DHL at 18%. Notably, the banking sector rose, with Wells Fargo and Chase making the top ten due to increased digital payment reliance. The report illustrates evolving phishing tactics aimed at exploiting online behavior during the pandemic. Check Point emphasizes the importance of user caution against phishing attempts.

Check Point Software Technologies (NASDAQ: CHKP) released its 2021 Mobile Security Report, highlighting increased mobile threats faced by enterprises. Key findings include:

• 97% of organizations encountered mobile threats from multiple attack vectors in 2020.
• 46% had employees download a malicious mobile application.
• 40% of mobile devices globally are vulnerable due to chipset flaws.
• Mobile malware incidents, including banking trojans, increased by 15%.

The report urges organizations to prioritize mobile security as remote work expands.

Check Point Software Technologies (NASDAQ: CHKP) will release its Q1 financial results on April 26, 2021, before U.S. markets open. A conference call is scheduled for 8:30 AM EDT on the same day, which can be accessed via live webcast on the company's website. Check Point is a leading provider of cybersecurity solutions, protecting over 100,000 organizations worldwide with its advanced security measures against cyber threats, including malware and ransomware.

Check Point Research reports that after the takedown of the Emotet botnet, Trickbot has emerged as the leading global cyber threat. In February 2021, Trickbot topped the Global Threat Index, affecting 3% of organizations worldwide. The malware was distributed through a malicious spam campaign targeting legal and insurance sectors. Trickbot previously played a role in the costly $67 million attack on Universal Health Services, emphasizing its danger and adaptability. Check Point urges organizations to strengthen security and employee training to combat such threats.

Check Point Research has released its 2021 Security Report, revealing tactics used by cyber criminals during the COVID-19 pandemic. Key findings include over 100,000 malicious websites and 10,000 malicious files appearing daily, with 87% of organizations facing attacks exploiting known vulnerabilities. The report highlights a significant surge in ransomware, especially in the healthcare sector, which saw a 45% increase in attacks. With 46% of employees downloading malicious mobile apps, the report emphasizes urgent improvements in cloud security and remote working defenses.

Check Point (NASDAQ: CHKP) has launched CPX360, a virtual event addressing cybersecurity challenges, with a focus on strategies to prevent cyber threats. CEO Gil Shwed highlighted a 50% increase in cyber-attacks due to the shift to remote work during the COVID-19 pandemic. He emphasized the urgency for organizations to adopt Gen V security technologies to combat evolving threats. The event features industry experts discussing trends and new solutions, including Check Point Harmony, aimed at enhancing endpoint security.