Check Point (CHKP) Unveils AI-Driven Quantum Force Series
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 prevention, achieving an outstanding malware block rate of 99.8%.
The Quantum Force series sets new standards for firewall performance, offering threat prevention, power efficiency and compact 1RU/2RU form factors for space optimization, all controlled through unified management for comprehensive security scenarios.
Digital and cloud transformation is happening at an unprecedented rate. With the hybrid workforce, there is a growing need for secure and fast networks to facilitate remote work seamlessly.
This new release is 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 earnings is pegged at $9.02 per share, indicating year-over-year growth of 7.13%.
Check Point Software Technologies Ltd. Price and Consensus
Check Point Software Technologies Ltd. price-consensus-chart | Check Point Software Technologies Ltd. Quote
CHKP Faces Competition in the Cybersecurity Market
According to a report by InvestorPlace, revenues generated from cybersecurity are anticipated to reach $500 billion by 2030, marking a substantial increase from $185 billion recorded in 2021.
Cybersecurity entails safeguarding hardware, software and servers from digital assaults. Every business with an online presence is susceptible to such attacks, with companies like Fortinet FTNT, Cisco Systems CSCO, Palo Alto Networks PANW and Check Point offering defense mechanisms against them.
Shares of Check Point have risen 23.4% in the past year compared with the Zacks Computer and Technology sector’s growth of 46.7% due to tough competition in the market. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check Point is a prominent provider of AI-driven and cloud-based cybersecurity solutions, safeguarding more than 100,000 organizations globally. Through its Infinity Platform, CHKP harnesses AI across its offerings to enhance cybersecurity efficiency and accuracy.
The company recently introduced the Check Point Quantum Spark 1900 and 2000, an advanced firewall lineup, as well as Infinity AI Copilot, the first of its kind in the industry. By harnessing the power of AI and cloud computing, Infinity aims to tackle the increasing scarcity of cybersecurity experts. It enhances the productivity and efficacy of security teams, helping them stay ahead of the competition.
Fortinet, headquartered in Sunnyvale, CA, specializes in cybersecurity solutions, including 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. Given the increasing emphasis on cybersecurity by organizations, Fortinet stands out as a top choice in the cybersecurity realm.
Cisco Systems, a prominent global technology firm, is actively engaging in the AI-driven cybersecurity domain. In September 2023, it announced the strategic acquisition of Splunk, a key player in the cloud security platform arena. CSCO is a diversified company with the growth of network hardware, IoT solutions and cloud management.
Palo Alto Networks is a cybersecurity corporation based in Santa Clara, CA. At its core, the company offers a platform featuring sophisticated firewalls and cloud-based solutions that broaden firewall coverage to encompass various security aspects. Notably, it houses the Unit 42 threat research team and organizes the Ignite cybersecurity conference. Additionally, the company is affiliated with the World Economic Forum as a partner organization.
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