LAS VEGAS, March 06, 2024 (GLOBE NEWSWIRE) -- CPX -- Check Point® Software Technologies Ltd. (NASDAQ:CHKP), a leading AI-powered, cloud-delivered cyber security platform provider, today introduced Harmony SaaS, one of the most advanced solutions for safeguarding against SaaS-based threats. Designed to revolutionize Software as a Service (SaaS) security, Harmony SaaS offers exceptional protection by seamlessly integrating into customers' existing infrastructure and providing real-time threat prevention. "Wit ...

SAN CARLOS, Calif., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Check Point Software Technologies Ltd. (NASDAQ:CHKP), a leading AI-powered, cloud-delivered cyber security platform provider, solidifies its leadership position in the latest Omdia Universe Email Security 2024 report. Recognized as the sole Next-Gen email security solution featured in the report, Check Point Harmony Email & Collaboration was praised for its exceptional strategy implementation and unmatched protection for organizations. The Omdia Universe ...

Navigating the treacherous waters of the digital world demands a robust shield, and cybersecurity stocks are the answer. Hackers are getting more intuitive, and cyber attacks are one of the most prominent threats to economic stability. The demand for effective cybersecurity solutions has surged, paving the way for notable growth in the cybersecurity sector. This creates fertile ground for companies specializing in areas like endpoint security, cloud security, identity management and threat intelligence. Add ...

Check Point (CHKP) recently introduced its Quantum Force series. This innovative collection comprises 10 high-performance firewalls, tailored to address the rigorous security needs of enterprise data centers, network perimeters, campuses and businesses of all dimensions.Powered by the advanced Check Point Infinity Platform, which integrates cloud-based security intelligence and more than 50 artificial intelligence (AI) engines, the Quantum Force Security Gateways can deliver up to 1 Tbps of AI-driven threat ...

Carlos Duarte/Moment via Getty Images Check Point Software (NASDAQ:CHKP) reported a very strong end of the fiscal year 2023 with growth at both the top and bottom line. Despite the challenges faced at the start of 2023, Check Point overcame the slow customer acquisition at the start of the year and ended with resilience. With their Infinity platform rolling out, management is optimistic this level of growth can continue and potentially ride the AI software wave. I provide CHKP shares a BUY recommendatio ...

In the age of cybersecurity and tech advancement, the imperative for edgy solutions has never been more critical. As the cybersecurity space expands, so too do the related threats. Now, the role of cybersecurity companies in the economy emerges as vital. Among these sentinels stand three stalwart cybersecurity stocks. These companies embody resilience and exemplify growth and adaptability in the face of evolving cyber threats. This article will dissect the core strengths and market strategies of these cyber ...

gorodenkoff/iStock via Getty Images Check Point Software Technologies (NASDAQ:CHKP) is a global leader in cybersecurity solutions, protecting businesses of all sizes from cyberattacks across various landscapes. Founded in 1994, they offer a comprehensive AI-driven security platform, Infinity, which safeguards networks, clouds, mobile devices, and data with advanced threat prevention capabilities. The stock has been performing really well in the market. Having gone public in 1996 at a price level of $4, it b ...

Key PointsCyber security stocks are in an uptrend driven by growth supported by the rising use of the cloud and the growing threat to it. Fortinet uses its robust cash flow to repurchase shares, reducing the count by 2% in 2023. Check Point is a smaller business with superior margins and share-repurchasing power. 5 stocks we like better than Check Point Software TechnologiesCyber security stocks Check Point Software NASDAQ: CHKP and Fortinet NASDAQ: FTNT can hit new highs, but one is the better buy. While C ...

Check Point Software Technologies Ltd. (CHKP) ended 2023 on a strong note by reporting overwhelming fourth-quarter results, wherein revenues and earnings both surpassed the respective Zacks Consensus Estimates and marked a significant year-over-year improvement.The IT security solutions provider reported non-GAAP earnings of $2.57 per share, beating the Zacks Consensus Estimate of $2.46. The bottom line increased 5% from the year-ago quarter’s earnings of $2.45 per share and came ahead of its previously pro ...

Financial Data and Key Metrics Changes - The company reported revenues of $664 million for Q4 2023, exceeding the midpoint of projections by $3 million, with a year-over-year growth of 7% [123] - For the full year 2023, revenues reached $2.450 billion, representing a 4% year-over-year growth, while EPS was $8.42, reflecting a 14% growth year-over-year, marking the highest quarterly EPS since 2011 [124] - The operating income for Q4 was $309 million, with a strong operating margin of 47% [123] Business Line Data and Key Metrics Changes - The Infinity platform is becoming increasingly significant, contributing to strong double-digit growth in new business bookings [28] - Subscription services are growing consistently at about 15% per year, showing a slight acceleration [34] - Product revenues have been declining, but product orders increased by double digits in the last quarter, indicating positive trends heading into 2024 [36] Market Data and Key Metrics Changes - The company has seen a significant increase in customer engagement, doubling the number of customers and meeting with three times more prospects in 2023 [10] - There is a noted increase in pipeline size, although the growth rate does not match the increase in customer meetings due to the sales force focusing on low-hanging fruit [12] - The company is optimistic about the demand for its products, particularly in the Infinity and subscription business, despite ongoing economic challenges [17] Company Strategy and Development Direction - The company aims to leverage its financial strength to create more annuity-based business models, transitioning capital investment models into subscription models [24] - The focus for 2024 is on enhancing the Infinity platform, which is cloud-delivered and AI-powered, emphasizing comprehensive, consolidated, and collaborative cybersecurity solutions [102][104] - The management is committed to winning new customers and expanding the sales force's focus on acquiring new logos as a top priority for 2024 [44] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the ongoing economic challenges but expresses optimism about a slight turnaround in business conditions, particularly in Q4 2023 [98] - There is a recognition of the uncertainties in the market, with management emphasizing the need for consistent execution despite external challenges [16] - The company is preparing for potential growth in 2024, driven by increased customer engagement and a robust pipeline [91] Other Important Information - The company has seen a significant increase in large deals, particularly in government transactions, with double-digit growth in both the number of deals and dollar value [49] - The management is in the process of transitioning leadership, with the CEO moving to an Executive Chairman role while remaining actively involved in the company's future [118][120] Q&A Session Summary Question: Why is the leadership transition happening now? - The CEO indicated that the timing is right due to strong product performance and positive trends observed in Q4 2023, alongside a desire to focus on shaping the future of the cybersecurity market [106][110] Question: What are the key characteristics sought in a new CEO? - The management is looking for a candidate who is passionate about cybersecurity, detail-oriented, and capable of engaging with customers and partners globally [3][4] Question: How does the company plan to drive billings growth in 2024? - The CFO mentioned that consistent growth in new business, as seen in Q4, is expected to translate into billing growth, aided by more flexible billing terms [20][22]