Check Point Software Tech Ltd Stock Price, News & Analysis

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.

Check Point Software Technologies (NASDAQ: CHKP) has launched Infinity SOC, an innovative cybersecurity platform that integrates threat prevention, detection, investigation, and remediation. This state-of-the-art solution, powered by AI, helps security teams manage the overwhelming volume of event logs and alerts, which often includes many false positives. According to a survey, 68% of security professionals struggle with false alerts, impacting their ability to detect real threats. Infinity SOC aims to resolve this by delivering unmatched accuracy, rapid incident investigations, and zero-friction deployment, all within a single, cloud-based platform.

Check Point Software Technologies Ltd. (NASDAQ: CHKP) has partnered with Coursera, a major online learning platform, to enhance cybersecurity education. This collaboration features a series of cybersecurity courses aimed at security professionals and network administrators, including the Check Point Jump Start series. The initiative addresses the global cybersecurity skills gap, which has increased to 4.07 million unfilled roles. This partnership underscores Check Point's commitment to ongoing training for both current professionals and those entering the field.

Check Point Software Technologies Ltd. (NASDAQ: CHKP) has launched the 1570R rugged security gateway, enhancing cybersecurity for critical infrastructure and industrial control systems. This gateway offers 400 Mbps of threat prevention performance and supports over 1,500 SCADA and ICS protocols. The 1570R is designed for extreme environments, certified for temperatures from -40C to +75C, and ensures protection against a surge of targeted attacks that increased 20 times during 2019. The launch is timely, addressing rising cyber threats amid the Covid-19 pandemic.

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