U.S. utilities faced a near 70% jump in cyberattacks this year over the same period in 2023, according to data from Check Point Research, underlining the escalating threat to a critical infrastructure.
Check Point (CHKP) reported earnings 30 days ago. What's next for the stock?
Check Point Software is recommended as a buy due to robust growth prospects, including accelerating billings growth, PNL segment turnaround, and strong demand for new products. CHKP is a cybersecurity company offering network and gateway security solutions, serving various industries. 2Q24 revenue grew 6.6%, driven by strong demand for the Infinity Platform and Harmony email. Growth reacceleration in 2Q24 indicates a positive outlook for 2H24 and FY25.
Here is how Check Point Software (CHKP) and Itron (ITRI) have performed compared to their sector so far this year.
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Check Point's (CHKP) second-quarter 2024 results reflect benefits from the adoption of cloud solutions and strong demand for Harmony products.
Check Point reported its Q2 FY24 earnings, where revenue grew 7% YoY, driven by double-digit growth in Products & Subscriptions, while operating profit remained flat YoY. Although the company is driving AI-centered product innovation across its solutions and forging partnerships with Microsoft and Nvidia, the competitive landscape is fierce. So far, CHKP has been winning large deals among enterprise customers while gaining market share in the public sector; however, its competitors are growing at a much faster rate.
Although the revenue and EPS for Check Point (CHKP) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Check Point Software (CHKP) came out with quarterly earnings of $2.17 per share, beating the Zacks Consensus Estimate of $2.16 per share. This compares to earnings of $2 per share a year ago.
Check Point Software Technologies on Wednesday said that cybersecurity veteran Nadav Zafrir will become its new chief executive starting in December.
Here, we take a sneak peek into how these IT services stocks - VRT, ROP and CHKP - are poised ahead of their second-quarter 2024 earnings releases.
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