Check Point Software Technologies Ltd. (CHKP - Free Report) announced Fast Track Network Security, a new portfolio of solutions, on Jan 15. This enables enterprises to deploy threat prevention capabilities at all points of their infrastructure and scale security per changing business needs.
The Fast Track Network Security suite has five new Check Point Quantum Security Gateways for branch offices to mid-size businesses, and one gateway for Maestro Hyperscale orchestrations for large enterprises and data centers. All gateways offer Check Point ThreatCloud and SandBlast Zero-Day Protection.
Moreover, all Fast Track Network Security solutions include Check Point’s latest R80 unified security software — R80.40 — to expand protection, streamline processes and enhance productivity.
R80 is an advanced threat prevention and security management software for data centers, cloud, mobile, endpoint and IoT. It consolidates all aspects of enterprise security, providing enterprises full visibility into security across their entire network interface in a customizable visual dashboard. This allows them to manage highly complex environments efficiently from their web browser.
The Fast Track Network Security solutions also help an enterprise significantly enhance the efficiency of its security operations to prevent and block advanced attacks.
Notably, in the past year, shares of Check Point have gained 8.9%, underperforming the industry’s growth of 26.3%. Nonetheless, these endeavors are expected to help the company revive its shares.
Check Point’s New Solution Strengthens Portfolio
With the growing use of AI-driven technology to aid industries in the digital transformation journey, the incidents of “smart attacks” are also on the rise.
Enterprises persistently confront sophisticated cyber threats, making cybersecurity a mission-critical, high-profile requirement.
Per the 2019 study of IBM Cost of a Data Breach, the lifecycle of a cyberattack from the time of the breach to containment lasts about 314 days, on average, costing organizations $3.9 million, on average.
Check Point’s Fast Track Network Security addresses the need for a comprehensive and agile set of security technologies to protect against advanced Gen V cyberattacks, simplifying the complexities of disjointed security management processes.
Fast Track Network Security’s combination of advanced new Quantum Security Gateways, Maestro Hyperscale technology and the R80.40 software enables enterprise customers to achieve Hyperscale network security.
Efforts to Deliver Solid Enterprise Security
Notably, Check Point’s domain expertise in the security space and steady delivery of mission-critical solutions are helping it gain customer accounts.
Launch of solutions like Branch Office Security, 16000 and 26000 Security Gateways for large enterprises and data centers, and Check Point Maestro hyperscale network security helped the company boost its security subscription business.
In the last reported quarter, security subscription revenues were $154 million, increasing 13% year over year, driven by strong demand for its next-generation threat extraction and protection solutions, CloudGuard and Infinity solutions, and SandBlast zero-day advanced threat prevention technologies.
Per Global Market Insights, the global threat intelligence market is expected to cross $13 billion by 2025. This bodes well for Check Point, which has a strong footing in this market.
Zacks Rank and Key Picks
Check Point currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader technology sector are Fortinet (FTNT - Free Report) , SYNNEX (SNX - Free Report) and Silicon Motion Technology Corporation (SIMO - Free Report) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Fortinet, SYNNEX and Silicon Motion is currently pegged at 14%, 12% and 7%, respectively.
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