Check Point (CHKP Quick QuoteCHKP - Free Report) introduced a solution to protect against Software as a Service (SaaS)-based threats. The Harmony SaaS solution provides protection by seamlessly integrating into customers’ existing infrastructure and offering real-time threat prevention.

Traditional security methods struggle to keep up with these SaaS-based threats, leading to data breaches and security incidents. Harmony SaaS uses advanced technology like machine learning to detect and stop suspicious activity in real time.

One key feature of Harmony SaaS is its ability to continually reduce the risk of attacks by providing insights into an organization's SaaS applications. It helps prioritize security measures and quickly fix any vulnerabilities, keeping data safe from cyber threats.

Unlike other solutions that require lengthy setup and additional hardware, Harmony SaaS is quick to deploy and doesn't need extra expertise. organizations can start using it within minutes to manage their SaaS security effectively, saving time and effort.

CHKP’s Latest Security Updates to Aid Top-Line Growth

Checkpoint has been investing in updating its security regulary. It recently introduced the Check Point Quantum Force series, a new set of 10 powerful firewalls built to provide top-notch security for big data centers, network perimeters, campuses and businesses of all sizes.

These firewalls, powered by the advanced Check Point Infinity Platform, are packed with cutting-edge technology, including cloud-based security intelligence, automated threat response and more than 50 artificial intelligence (AI) engines.

CHKP also unveiled Check Point Quantum Spark 1900 and 2000, the newest members of its firewall series designed for small and medium businesses (SMBs). These security gateways are made to shield SMBs from constantly changing cyber threats. The company provides strong network security with easy setup, cloud management and automatic threat handling for medium-sized businesses.

These new releases are expected to aid the company’s top-line growth in 2024. The Zacks Consensus Estimate for this Zacks Rank #3 (Hold) company’s 2024 revenues is pegged at $2.56 billion, indicating year-over-year growth of 5.92%. The Zacks Consensus Estimate for 2024 earnings is pegged at $9.02 per share, indicating year-over-year growth of 7.13%.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Shares of Check Point have gained 25% year to date compared with the Zacks Computer and Technology sector’s growth of 47% due to tough competition from Fortinet (FTNT Quick QuoteFTNT - Free Report) , Cisco Systems (CSCO Quick QuoteCSCO - Free Report) and  Palo Alto Networks (PANW Quick QuotePANW - Free Report) in the cybersecurity market.

Fortinet, headquartered in Sunnyvale, CA, focuses on cybersecurity products like firewalls, endpoint security and intrusion detection systems. With a global presence through various offices worldwide, FTNT is recognized as a prominent network cloud security platform provider.

Cisco Systems, a big technology company, is now heavily involved in AI-driven cybersecurity. In September 2023, it bought Splunk, a major player in cloud security. Cisco deals with network hardware, IoT solutions and cloud management.

Palo Alto Networks, based in Santa Clara, CA, is a cybersecurity company known for its advanced firewalls and cloud-based security solutions. It also has the Unit 42 threat research team and hosts the Ignite cybersecurity conference.