Check Point Software Tech Ltd Stock Price, News & Analysis

Check Point Software (NASDAQ: CHKP), a prominent cybersecurity platform provider, has signed a definitive agreement to acquire Cyberint Technologies, a leading External Risk Management solutions provider.

This acquisition will significantly enhance Check Point's Security Operations Center (SOC) capabilities, expanding its managed threat intelligence offerings by integrating Cyberint's advanced capabilities into the Check Point Infinity Platform. Founded in 2010, Cyberint is recognized for its AI-driven solutions, serving Fortune 500 companies worldwide. This strategic move aims to address critical security challenges like stolen credentials and fake websites.

The acquisition is expected to close by the end of 2024, subject to customary closing conditions.

Check Point Software Technologies (NASDAQ: CHKP) announced strong Q2 2024 results and a new CEO appointment. Key highlights:

- Total revenues: $627 million, up 7% year-over-year
- Security Subscription Revenues: $272 million, up 14% year-over-year
- GAAP EPS: $1.74, up 3% year-over-year
- Non-GAAP EPS: $2.17, up 8% year-over-year

Nadav Zafrir, a renowned cybersecurity leader, will become CEO in December 2024. Founder Gil Shwed will transition to Executive Chairman. The company also announced a $2 billion expansion of its share repurchase program.

Check Point Software Technologies (NASDAQ: CHKP) has been named a Leader in the Forrester Wave™: Mobile Threat Defense Solutions, Q3 2024 report. The recognition highlights Check Point's Harmony Mobile as a superior solution for mobile application protection, network defense, and vulnerability mitigation. The report emphasizes Check Point's ability to maintain personally identifiable information (PII) on-premises, a important feature given the identification of over 18,000 high-risk mobile applications in the past month.

Check Point received the highest possible score in 14 criteria, including application integrity and network defense. The company's vision aligns mobile threat defense with the Zero Trust Model, offering flexible deployment and purchasing options. With nearly a decade of expertise in mobile threat defense, Check Point has already thwarted millions of attacks, solidifying its position as a seasoned authority in the field.

Check Point Software Technologies (NASDAQ: CHKP) has released its 2023 ESG Report, highlighting progress in environmental, social, and governance areas. Key achievements include:

1. Environmental: Set framework for 100% renewable energy at International HQ starting 2024; Improved power efficiency of Quantum Force security gateways.

2. Social: Trained ~190,000 people in cybersecurity; Partnered with 37 new SecureAcademy institutions; Increased corporate donations by 29%.

3. Governance: 40% of senior leadership positions held by women; 33% female board members; No pay gaps in Israel for third consecutive year.

Check Point aims to achieve carbon neutrality by 2040 and remains committed to making the world safer and better through its ESG initiatives.

Check Point Software Technologies (NASDAQ: CHKP) has announced a $2.0 billion expansion of its share repurchase program. As of June 30, 2024, the company had approximately 111 million shares outstanding. Since the program's inception, Check Point has repurchased about 218 million shares for a total of approximately $15 billion. The extended repurchase authorization, initially set in February 2023, is expected to be completed by Q4 2024. Repurchases will be made through various transactions, compliant with regulatory guidelines. The program's specifics, such as timing and volume, will depend on market conditions and other factors. Funding for the repurchases will come from available working capital.

Check Point Software Technologies (NASDAQ: CHKP) will release its financial results for the second quarter of 2024 on July 24, 2024, before U.S. markets open. The company will host a video conference call for investors at 8:30 AM EST/5:30 AM PST the same day. The live videocast will be available on Check Point's investor relations website. Check Point is a global leader in cybersecurity solutions, and this announcement provides an important update for investors tracking the company's performance and future prospects.

Check Point Software Technologies announced the CloudGuard WAF-as-a-Service (WAFaaS), an AI-powered web application firewall designed to enhance cloud security. The service is fully managed and scalable, offering protection against cyber threats and unauthorized access.

The 2024 Cloud Security Report indicated that 96% of respondents were concerned about managing cloud risks. CloudGuard WAFaaS aims to simplify and streamline this process with features like AI-based threat detection, API discovery, and DDoS prevention. The platform can be deployed in under five minutes, providing a comprehensive and cost-effective security solution.

Check Point Software has launched a new API Discovery feature on its CloudGuard platform, enhancing its Web Application Firewall (WAF) capabilities. This innovation has positioned Check Point as a leader in GigaOm's latest Radar for Application and API Security. The API Discovery tool provides comprehensive insights into API inventories across cloud environments, helping to identify exposed or vulnerable APIs, thereby enhancing security measures against unauthorized access and data breaches. GigaOm analyst Don MacVittie highlighted that Check Point earned the highest score for API protection. Check Point's 2024 Cloud Security Report noted a substantial rise in cloud security incidents, from 24% in 2023 to 61% in 2024.

Check Point Software Technologies released the 2024 Cloud Security Report, revealing a sharp increase in cloud security incidents from 24% in 2023 to 61% in 2024. The report emphasizes the need for organizations to prioritize AI-powered threat prevention measures, as only 21% focus on prevention while the majority concentrate on detection. Concerns over managing cloud risks have surged to 96%, with 91% prioritizing AI to enhance security. The report highlights the importance of implementing Cloud Native Application Protection Platforms (CNAPP) and the challenges in maintaining regulatory standards and integrating cloud services into legacy systems.