TEL AVIV, Israel, Jan. 02, 2025 (GLOBE NEWSWIRE) -- Check Point® Software Technologies Ltd. (NASDAQ: CHKP), a leading provider of cyber security solutions globally, today announced that it will release its financial results for the fourth quarter and full year 2024 ended December 31, 2024, on Thursday, January 30, 2025, before the U.S. financial markets open. Management will host a video conference call with the investment community at 8:30 AM EST/5:30 AM PST on January 30, 2025. A live video webcast of the ...

Proven Protection at Scale: Check Point Harmony Email Collaboration Secures Businesses Globally, Exceeding $100M in ARRREDWOOD CITY, Calif., Dec. 19, 2024 (GLOBE NEWSWIRE) -- Check Point Software Technologies Ltd. (NASDAQ: CHKP), a pioneer and global leader of cyber security solutions, today announced that it has been recognized as a Leader in the 2024 Gartner® Magic Quadrant™ for Email Security Platforms (ESP). Check Point provides powerful email security through Harmony Email Collaboration, protecting ema ...

Core Insights - Check Point Software Technologies Ltd. announces the transition of Gil Shwed to Executive Chairman and the appointment of Nadav Zafrir as the new CEO effective December 16, 2024 [1][2] - Gil Shwed expresses confidence in Nadav Zafrir's leadership capabilities and the company's strategy, emphasizing a commitment to achieving greater success [2] - Nadav Zafrir, previously co-founder and managing partner at Team8, has a strong background in cyber security, having established the IDF's Cyber Command and served as Commander of Unit 8200 [2] Company Overview - Check Point is a leading AI-powered, cloud-delivered cyber security platform provider, protecting over 100,000 organizations globally [3] - The company utilizes AI to enhance cyber security efficiency and accuracy through its Infinity Platform, which includes various technologies for securing workspaces, clouds, and networks [3]

Core Insights - Check Point Software Technologies announced that its Infinity XDR/XPR achieved a 100% detection rate in the 2024 MITRE ATT&CK® Evaluations, successfully identifying all 57 applicable attack steps [1][4] - The evaluation demonstrated the solution's capabilities in detecting and preventing sophisticated cyber threats, providing security teams with detailed data for effective response [1][2] Company Performance - Infinity XDR/XPR achieved 98% of detections at the technique level, showcasing unmatched precision and the ability to deliver actionable intelligence against complex attacks [4] - The solution provided perfect coverage across all testable attack scenarios, ensuring reliable protection against ransomware and data breaches [4] Industry Context - The MITRE ATT&CK® Evaluations serve as an objective assessment of security solutions' detection capabilities, emulating real-world threat scenarios to evaluate performance [2][3] - The evaluation specifically emulated tactics used by ransomware groups CL0P and Lockbit, highlighting the increasing sophistication of cyber attacks [3]

It has been about a month since the last earnings report for Check Point Software (CHKP) . Shares have added about 4.4% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Check Point due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Check Point Software Q3 Earnings Mat ...

Core Viewpoint - Check Point Software Technologies (CHKP) has experienced a year-to-date share price increase of 19.9%, which is below the broader Zacks Computer – Technology industry growth of 27.5% but has outperformed its peers in the Computers - IT Services sector [1][2] Performance Analysis - CHKP's performance is driven by strong security subscription revenues, which reached $277 million in Q3 2024, marking a 12% year-over-year increase [3] - In comparison, Accenture's shares increased by 2.9%, while DXC Technology and Evolv Technologies saw declines of 1.2% and 11.2%, respectively [2] Product Development - The introduction of Check Point Quantum Firewall Software R82 aims to enhance network security and threat prevention, featuring 50 enhancements and four new AI integrated engines [5][6] - The Agile Datacenter operations have been developed to simplify firewall virtualization and improve scalability and operational efficiency [7] Financial Metrics - For Q3 2024, selling and marketing expenses rose by 14% year-over-year to $208.9 million, leading to a contraction in operating margin by 350 basis points to 34.4% [8] - The Zacks Consensus Estimate for Q4 2024 earnings is $2.66, reflecting a year-over-year growth of 3.5%, with revenues expected to reach $698.49 million, indicating a 5.27% increase [9] Future Outlook - For 2024, the revenue estimate stands at $2.56 billion, showing a year-over-year growth of 6%, while earnings per share are projected at $9.11, up 8.19% [10] - CHKP anticipates Q4 2024 revenues between $675 million and $715 million, with EPS between $2.6 and $2.7, aiming to enhance revenue through acquisitions [11] Valuation Concerns - CHKP shares are currently viewed as having a stretched valuation, with a forward Price/Sales (P/S) ratio of 7.48X, exceeding the sector average of 6.13X [12] - The company holds a Zacks Rank 3 (Hold), suggesting that investors may consider waiting for a more favorable entry point [13]

Core Insights - Check Point Software Technologies Ltd. has been recognized as a Leader and Fast Mover in the GigaOm Radar Report for Cloud-Native Application Protection Platforms (CNAPPs), highlighting its strong focus on prevention and cohesive cloud security strategy [1][2] Company Overview - Check Point is a global leader in cyber security solutions, protecting over 100,000 organizations worldwide with its AI-powered, cloud-delivered security platform [4][5] - The company emphasizes the integration of its solutions, including Check Point Harmony, CloudGuard, and Quantum, under the Infinity Platform for comprehensive security operations [5] Product Features - Check Point CloudGuard scored 5/5 on several features, showcasing its comprehensive approach to securing cloud-native applications and managing cloud misconfigurations [2] - Key features of CloudGuard include: - Scalable Cloud Security: Supports complex cloud environments with collaborative scalability [3] - Advanced Threat Detection and Prevention: Offers AI-generated remediation suggestions to enhance time-to-remediation efficiency [3] - Real-time API Security: Continuously discovers APIs and provides real-time monitoring to detect malicious activity [3] - Seamless Code Security: Detects vulnerabilities early in the development process, reducing the risk of deploying vulnerable code [3] Market Context - The 2024 Cloud Security Report from Check Point revealed that 96% of respondents are concerned about effectively managing emerging cloud risks, indicating a significant shift in perception regarding cloud security [2]

Industry Overview - The software segment of the tech industry has seen a significant increase, with the iShares Expanded Tech-Software Sector ETF (BATS: IGV) rising nearly 38% over the past year, including a substantial portion of that growth occurring from mid-October to mid-November [1][2] Company Analysis: MongoDB - MongoDB Inc. (NASDAQ: MDB) specializes in software platforms for data storage and analysis, with its cloud-based database-as-a-service tool, MongoDB Atlas, contributing over 70% of the company's $478 million revenue for the fiscal year [3][4] - For Q2 of its 2025 fiscal year, MongoDB reported a 13% year-over-year revenue increase, although net losses widened slightly to $54.5 million, while maintaining a strong cash position of $2.3 billion [4] - The NoSQL database industry, where MongoDB operates, is projected to exceed $82 billion by 2031, although MongoDB faces competition from larger rivals like Amazon's DynamoDB [5] - MongoDB has a "moderate buy" rating, with 20 out of 26 analysts recommending purchase, and a consensus price target of $334.25, indicating a potential upside of 14.1% from current levels [6] Company Analysis: Check Point Software - Check Point Software Technologies Ltd. (NASDAQ: CHKP) reported a 7% overall revenue growth to $635 million, with a 12% increase in subscription revenue year-over-year, despite some deals being postponed to the next quarter [7][8] - The company maintains a revenue guidance of $2.5 billion for the year and a net profit exceeding $1 billion, with a gross margin of 89% [8] - Following its earnings announcement, Check Point's shares fell, attributed to results that did not significantly exceed expectations, despite a recent downgrade by Bank of America to "neutral" from "buy" [9][10] Company Analysis: Tyler Technologies - Tyler Technologies Inc. (NYSE: TYL) provides software and services to public sector organizations, achieving nearly 10% year-over-year revenue growth, driven by increased demand for its SaaS offerings [14] - Transaction revenues grew over 15%, indicating successful implementation of its cloud-based strategy, although the company has reduced its expected free cash margin and slightly lowered its full-year revenue guidance [15]

Core Insights - Check Point Software Technologies (CHKP) reported third-quarter 2024 results, with non-GAAP earnings of $2.25 per share, a 9% increase from $2.07 per share in the same quarter last year, while revenues missed estimates by 0.5% [1][2] Financial Performance - Quarterly revenues increased 7% year over year to $635 million, driven by double-digit growth in Harmony Email and Infinity Platform revenues [2] - Security subscription revenues reached $277 million, up 12% year over year, aided by the acquisition of Cyberint and strong demand for the Harmony product family [3] - Products and licenses revenues increased 4.2% year over year to $118.9 million, while total revenues from product and security subscriptions were $635.1 million, reflecting a 6.5% year-over-year increase [4] - Software updates and maintenance revenues rose to $239.3 million from $233.8 million in the previous year [5] - Non-GAAP operating income for the third quarter totaled $274 million, up from $269 million year over year, with a non-GAAP operating margin of 43%, down 2% year over year [5] Balance Sheet and Cash Flow - As of September 30, 2024, Check Point had cash and cash equivalents, marketable securities, and short-term deposits totaling $2.87 billion, down from $2.98 billion in the previous quarter [6] - The company generated $249 million in cash from operational activities during the third quarter [6] - Check Point acquired Cyberint for $186 million in net cash consideration [6] - The company repurchased approximately 1.79 million shares for about $325 million in the reported quarter [7] Market Position - Check Point currently holds a Zacks Rank 2 (Buy), indicating a favorable investment outlook [8] - Competitors with better rankings include Monday.com (MNDY), Palo Alto Networks (PANW), and BlackLine (BL), with MNDY gaining 61% year to date [8][9][10]

Core Insights - The previous investment thought on Check Point Software (NASDAQ: CHKP) was a buy rating due to the potential for growth acceleration based on multiple data points [1] Group 1: Investment Approach - The investment strategy focuses on long-term investments while incorporating short-term shorts to uncover alpha opportunities [1] - The approach revolves around bottom-up analysis, examining the fundamental strengths and weaknesses of individual companies [1] - The investment duration is medium to long-term, aiming to identify companies with solid fundamentals, sustainable competitive advantages, and growth potential [1]