Check Point Software Tech Ltd Stock Price, News & Analysis

Check Point Software Technologies (CHKP) has been recognized as a Leader in the Gartner Magic Quadrant for Enterprise Network Firewalls for the 21st time. This recognition highlights the company’s commitment to integrating cloud and on-premise security, enhancing performance, and centralized security management. Infinity Architecture is noted for its advanced threat prevention capabilities, including Zero Day Protection, and comprehensive security solutions for various environments. The press release emphasizes Check Point's ability to secure all aspects of enterprise networks amidst evolving cyber threats.

Check Point Software Technologies (NASDAQ: CHKP) has published its cyber-security predictions for 2021, highlighting emerging threats that organizations will face. The report indicates that COVID-19 impacts will continue to shape security priorities, with 81% of enterprises adopting mass remote working, and 74% planning to maintain it permanently. Key focus areas include securing distributed networks, addressing ransomware threats, and securing new 5G networks. Notably, a 30% increase in cyber-attacks in the education sector has been observed as institutions transition to remote learning.

Check Point Software Technologies has launched the R81 platform, a next-generation unified cybersecurity solution designed to streamline security management across distributed enterprises. The platform automates threat prevention, significantly reducing policy installation time by up to 90%. Given the rise in cyber threats during the pandemic, R81 provides autonomous threat prevention and rapid deployment capabilities, allowing security teams to efficiently manage complex network environments. Notably, R81 is available as a free upgrade for existing customers.

Check Point Research reveals that Trickbot and Emotet are the most prevalent malware in its Global Threat Index for October 2020. These trojans are primarily distributed as ransomware targeting the healthcare sector, with a reported 71% increase in attacks in the U.S. since September. The FBI has issued warnings regarding these threats, indicating over one million Trickbot infections worldwide. Additionally, vulnerabilities like MVPower DVR Remote Code Execution are being exploited, affecting 43% of organizations globally.

Check Point Software Technologies Ltd. (NASDAQ: CHKP) reported Q3 2020 financial results with total revenue of $509 million, a 4% increase year-over-year. GAAP EPS reached $1.42, up 14% from the previous year. The company cited strong performance, particularly in security subscriptions, which rose 10%. Deferred revenues increased 5% to $1,302 million. Significant business expansions included acquiring Odo Security and launching the Infinity SOC to enhance cybersecurity capabilities.

Check Point Research has released its Q3 2020 Brand Phishing Report, revealing that Microsoft was the most targeted brand in phishing attempts, rising from fifth place to account for 19% of all attacks. DHL and Google followed, each with 9%. The report indicates a significant increase in email phishing attacks, with technology, banking, and social media being the primary industries affected. The rise in phishing is attributed to the ongoing COVID-19 pandemic, as more employees work remotely. The report emphasizes the need for users to be vigilant about sharing personal data and credentials.

Check Point Software Technologies Ltd. (NASDAQ: CHKP) announced the acquisition of cloud-based secure remote access technology from Odo Security. This technology integrates with Check Point's Infinity architecture, enhancing security for remote work, which surged from 30% to 81% adoption due to the pandemic. Organizations face increased cyber-attack risks as they adapt to remote working. The integration allows for a unified access portal, quicker deployment, and enhanced visibility for security administrators. The deal is expected to close within a week.