Check Point Software Tech Ltd Stock Price, News & Analysis

Check Point Research has released its Global Threat Index for July 2020, revealing that Emotet has returned to the top spot, impacting 5% of organizations globally after a five-month dormancy. Emotet’s resurgence involves spreading malspam campaigns that infect victims with TrickBot and Qbot. Additionally, the report highlighted the most common exploited vulnerabilities, with MVPower DVR Remote Code Execution affecting 44% of organizations, followed by OpenSSL vulnerabilities impacting 42%. The report emphasizes the importance of cyber education and deploying anti-malware solutions to mitigate risks.

Check Point Software Technologies (NASDAQ: CHKP) has announced an extension of its partnership with New York University (NYU) to strengthen cyber security education. Starting this fall, NYU Tandon School of Engineering students will benefit from Check Point's eLearning program, which provides insights into the Check Point Infinity Architecture and various cyber security domains such as cloud, network, endpoint, and mobile security. The initiative aims to address the growing talent gap in the cybersecurity industry by offering students real-world skills and globally recognized credentials.

Check Point Software Technologies Ltd. (NASDAQ: CHKP) announced that shareholders approved all five proposals presented at its 2020 Annual General Meeting. Approximately 106.3 million shares, representing about 76% of the outstanding shares, were voted. The company expressed gratitude to shareholders for their continued support and confidence. For detailed information on the agenda items, refer to the company's proxy statement for the annual general meeting.

Check Point Research identified serious security vulnerabilities on OkCupid that could allow hackers to access private user data. These flaws could enable unauthorized users to manipulate profiles and send messages impersonating real users. OkCupid, which has over 50 million users, quickly addressed these issues after being notified by Check Point, ensuring no users were impacted. The vulnerabilities were fixed within 48 hours, emphasizing the importance of security in online dating platforms.

Check Point Software Technologies Ltd. (NASDAQ: CHKP) released its 'Cyber Attack Trends: 2020 Mid-Year Report', highlighting the rise of cyber threats during the COVID-19 pandemic. Attacks surged from under 5,000 to over 200,000 weekly by late April. Key findings include a 34% increase in cyber-attacks globally, with significant threats from nation-state actors targeting healthcare organizations. Notable trends include double-extortion ransomware, increased mobile exploits, and vulnerabilities in public cloud infrastructures. The report underscores the necessity for robust cybersecurity measures across all sectors.

Check Point Software Technologies Ltd. (NASDAQ: CHKP) reported Q2 2020 financial results with a total revenue of $506 million, a 4% increase year-over-year. GAAP EPS rose to $1.38, marking a 14% increase, while non-GAAP EPS reached $1.58, up 15%. Operating income was $221 million, or 44% of revenue. Cash flow from operations increased 8% to $252 million. Notable developments included enhancements to the Infinity platform and the launch of new security solutions amid rising cyber threats during the COVID-19 pandemic.

Check Point Software Technologies (NASDAQ: CHKP) has launched its IoT Protect solution, designed to secure IoT devices and networks across various sectors, including healthcare and industrial environments. This innovative solution aims to mitigate cyber threats, especially for unpatchable devices, using advanced threat intelligence and management capabilities. A survey revealed that 90% of organizations have shadow IoT devices, exacerbating cyber risks. With estimates of 41.6 billion IoT devices by 2025, Check Point's IoT Protect offers crucial visibility and control, ensuring robust cybersecurity measures.

Check Point Research has identified and mitigated a potential security issue related to Zoom's Vanity URLs, which hackers could exploit to send deceptive invitations appearing legitimate to steal user credentials. This discovery follows a previous collaboration in January aimed at fixing another vulnerability. The research highlights a significant surge in Zoom's usage during the COVID-19 pandemic, with daily participants rising from 10 million to over 300 million in April 2020. Check Point and Zoom have taken joint measures to enhance security and protect users globally.

Check Point Software Technologies (NASDAQ: CHKP) released its Global Threat Index for June 2020, revealing significant malware activity. The Phorpiex botnet surged to 2nd place, significantly increasing its impact, primarily through Avaddon ransomware malspam campaigns. Agent Tesla became the most prevalent malware, affecting 3% of organizations, while OpenSSL vulnerabilities were most exploited globally. The Phorpiex botnet has an estimated annual revenue of $500,000.