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Check Point Software Technologies Ltd.
Type
Public
Traded as NASDAQ: CHKP
NASDAQ-100 Component
Industry Security software
Computer hardware
Founded Ramat Gan, Israel
(1993; 24 years ago (1993))
Founders Gil Shwed
Marius Nacht
Shlomo Kramer
Headquarters Tel Aviv, Israel and San Carlos, California
Key people
Gil Shwed, (Founder & CEO)
Products FireWall-1, VPN-1, UTM-1,
Check Point Integrity,
Intrusion prevention systems,
Endpoint, security,
Security appliances,
Web Application Security
Revenue Increase US$1.629 billion (2015)
Net income
Increase US$685 million (2015)
Number of employees
3,500 (2016)
Subsidiaries ZoneAlarm, SofaWare, Easy2comply
Website www.checkpoint.com

Check Point Software Technologies Ltd. is an Israeli multinational provider of software and combined hardware and software products for IT security, including network security, endpoint security, mobile security, data security and security management.

As of 2016 the company has approximately 4,000 employees worldwide. Headquartered in Tel Aviv, Israel, the company has development centers in Israel, California (ZoneAlarm), Sweden (Former Protect Data development centre), and Belarus. The company has main offices in the United States, in San Carlos, California, in Dallas, Texas, and in Ottawa, Ontario (Canada).

Check Point was established in Ramat-Gan, Israel in 1993, by Gil Shwed (CEO as of 2016), Marius Nacht (Chairman as of 2016) and Shlomo Kramer (who left Check Point in 2003). Shwed had the initial idea for the company’s core technology known as stateful inspection, which became the foundation for the company's first product, FireWall-1; soon afterwards they also developed one of the world’s first VPN products, VPN-1. Shwed developed the idea while serving in the Unit 8200 of the Israel Defense Forces, where he worked on securing classified networks.

Initial funding of US$400,000 was provided by venture capital fund BRM Group.

In 1994 Check Point signed an OEM agreement with Sun Microsystems, followed by a distribution agreement with HP in 1995. The same year, the U.S. head office was established in Redwood City, California.

By February 1996 the company was named worldwide firewall market leader by IDC, with a market share of 40 percent. In June 1996 Check Point raised $67 million from its initial public offering on NASDAQ.

In 1998 Check Point established a partnership with Nokia, which bundled Check Point's Software with Nokia's computer Network Security Appliances.

In 2003, a class action lawsuit was filed against Check Point over violation of the Securities Exchange Act by failing to disclose major financial information.

During the first decade of the 21st century Check Point started acquiring other IT security companies, including Nokia's network security business unit in 2009.

Over the years many employees who worked at Check Point have left to start their own software companies. These include Shlomo Kremer, who started Imperva; Nir Zuk, who founded Palo Alto Networks; Ruvi Kitov and Reuven Harrison of Tufin; and Yonadav Leitersdorf, who founded indeni.

Check Point offers the following primary products:

In 2005, Check Point tried to acquire intrusion prevention system developers Sourcefire for $225 million, but later withdrew its offer after it became clear US authorities (specifically, the Committee on Foreign Investment in the United States ) would try to block the acquisition.

SofaWare Technologies was founded in 1999, as a cooperation between Check Point and SofaWare's founders, Adi Ruppin and Etay Bogner, with the purpose of extending Check Point from the enterprise market to the small business, consumer and branch office market. SofaWare's co-founder Adi Ruppin said that his company wanted to make the technology simple to use and affordable, and to lift the burden of security management from end users while adding some features. In 2001 SofaWare began selling firewall appliances under the SofaWare S-Box brand; in 2002 the company started selling the [email protected] and [email protected] line of security appliances, under the Check Point brand. By the fourth quarter of 2002 sales of SofaWare's [email protected] firewall/VPN appliances had increased greatly, and SofaWare held the #1 revenue position in the worldwide firewall/VPN sub-$490 appliance market, with a 38% revenue market share.

Relations between Check Point and the SofaWare founders went sour after the company acquisition in 2002. In 2004 Etay Bogner, co-founder of SofaWare, sought court approval to file a shareholder derivative suit, claiming Check Point was not transferring funds to SofaWare as required for its use of SofaWare's products and technology. His derivative suit was ultimately successful, and Check Point was ordered to pay SofaWare 13 million shekels for breach of contract. In 2006 the Tel Aviv District Court Judge ruled that Bogner SofaWare could sue Check Point by proxy for $5.1 million in alleged damage to SofaWare. Bogner claimed that Check Point, which owned 60% of Sofaware, had behaved belligerently, and withheld monies due for use of SofaWare technology and products Check Point appealed the ruling, but lost.

In 2009 the Israeli Supreme Court ruled that a group of founders of SofaWare, which includes Bogner, had veto power over any decision of SofaWare. The court ruled that the three founders could exercise their veto power only as a group and by majority rule.

In 2011 Check Point settled all litigation relating to SofaWare. As part of the settlement it acquired the SofaWare shares held by Bogner and Ruppin, and began a process of acquiring the remaining shares, resulting in SofaWare becoming a wholly owned subsidiary.

News

Check Point Software Technologies Ltd. 1.47% (technology)

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-02-01 Future report Set alerts
Q3 2020 2020-10-26 Future report Set alerts
Q2 2020 2020-07-22 1.58 1.38
Q1 2020 2020-04-27 1.42 1.23
Q4 2019 2020-02-03 2.02 1.84
Q3 2019 2019-10-28 1.44 1.25
Q2 2019 2019-07-24 1.38 1.21
Q1 2019 2019-04-18 1.32 1.15
Q4 2018 2019-01-30 1.68 1.51
Q3 2018 2018-10-24 1.38 1.25

Ratings

2016-07-08 Initiated Coverage Macquarie Neutral $91.00
2016-06-16 Downgrade Deutsche Bank Buy to Hold $95.00 to $90.00
2016-06-16 Downgrade Deutsche Bank AG Buy to Hold $95.00 to $90.00
2016-06-10 Reiterated Rating Jefferies Group Buy
2016-06-01 Downgrade Barclays Equal Weight to Underweight $91.00 to $83.00
2016-06-01 Downgrade Barclays PLC Equal Weight to Underweight $91.00 to $83.00
2016-05-26 Downgrade Citigroup Inc. Neutral $88.00
2016-05-22 Reiterated Rating Pacific Crest Buy
2016-05-10 Downgrade Citigroup Inc. Buy to Neutral $88.00
2016-04-21 Downgrade Raymond James Outperform to Market Perform
2016-04-21 Lower Price Target Topeka Capital Markets Buy $102.00 to $100.00
2016-04-21 Reiterated Rating Oppenheimer Outperform $95.00
2016-04-21 Downgrade Raymond James Financial Inc. Outperform to Market Perform
2016-04-21 Reiterated Rating Oppenheimer Holdings Inc. Outperform $95.00
2016-04-19 Reiterated Rating Bank of America Buy
2016-04-19 Reiterated Rating Bank of America Corp. Buy
2016-04-18 Boost Price Target RBC Capital Sector Perform $85.00 to $92.00
2016-04-18 Boost Price Target Royal Bank Of Canada Sector Perform $85.00 to $92.00
2016-04-07 Upgrade OTR Global Positive
2016-03-30 Lower Price Target Topeka Capital Markets Buy $102.00 to $92.00
2016-03-21 Initiated Coverage Goldman Sachs Neutral $97.00
2016-03-21 Initiated Coverage Goldman Sachs Group Inc. Neutral $97.00
2016-03-10 Initiated Coverage Sanford C. Bernstein Underperform $65.00
2016-02-18 Lower Price Target Citigroup Inc. $100.00 to $94.00
2016-01-31 Reiterated Rating FBR & Co. Outperform $90.00
2016-01-31 Reiterated Rating FBR & Co Outperform $90.00
2016-01-29 Lower Price Target Stephens Overweight $88.00
2016-01-28 Reiterated Rating Oppenheimer Buy $95.00
2016-01-21 Initiated Coverage Cleveland Research Neutral
2016-01-14 Reiterated Rating JPMorgan Chase & Co. Neutral $86.00
2016-01-14 Reiterated Rating FBR & Co. Outperform $95.00
2016-01-06 Downgrade Barclays Equal Weight to Underweight $91.00 to $83.00
2016-01-04 Downgrade Wells Fargo Outperform to Market Perform $96.00 to $87.50
2016-01-04 Downgrade Wells Fargo & Co. Outperform to Market Perform $96.00 to $87.50
2015-12-14 Initiated Coverage Evercore ISI Hold $94.00
2015-11-13 Reiterated Rating Oppenheimer Outperform $95.00
2015-11-08 Reiterated Rating Deutsche Bank Buy
2015-10-27 Lower Price Target Barclays Equal Weight $92.00 to $91.00
2015-10-26 Reiterated Rating FBR & Co. Outperform $95.00
2015-10-26 Reiterated Rating Nomura Buy
2015-10-26 Reiterated Rating William Blair Buy
2015-10-26 Reiterated Rating Nomura Holdings Inc. Buy
2015-10-13 Reiterated Rating Gabelli Buy
2015-10-12 Reiterated Rating Deutsche Bank Buy $95.00
2015-09-17 Reiterated Rating Wells Fargo & Co. Outperform
2015-09-17 Reiterated Rating Wells Fargo Outperform
2015-09-10 Initiated Coverage BTIG Research Neutral
2015-08-25 Reiterated Rating FBR & Co. Outperform
2015-08-11 Reiterated Rating Deutsche Bank Buy
2015-07-23 Reiterated Rating Needham & Company LLC Buy $100.00
2015-07-22 Reiterated Rating FBR & Co. Buy $95.00
2015-07-22 Reiterated Rating Oppenheimer Buy
2015-07-16 Reiterated Rating Citigroup Inc. Buy
2015-07-15 Reiterated Rating Oppenheimer Outperform $90.00
2015-07-01 Initiated Coverage JMP Securities Market Perform
2015-06-26 Initiated Coverage Barclays Equal Weight $90.00 to $90.00
2015-06-12 Reiterated Rating Deutsche Bank Positive
2015-06-09 Initiated Coverage Wunderlich Buy $105.00
2015-05-27 Reiterated Rating FBR & Co. Outperform
2015-05-27 Downgrade JPMorgan Chase & Co. Equal Weight to Underweight
2015-05-27 Downgrade Morgan Stanley Equal Weight to Underweight $73.00
2015-05-20 Initiated Coverage Evercore Partners Inc. Hold $91.00
2015-05-20 Initiated Coverage Evercore ISI Hold $91.00
2015-04-21 Boost Price Target Needham & Company LLC $85.00 to $100.00
2015-04-21 Boost Price Target Citigroup Inc. $92.00 to $98.00
2015-04-21 Upgrade Argus Hold to Buy $85.88 to $103.00
2015-04-21 Boost Price Target RBC Capital Sector Perform $83.00 to $91.00
2015-04-20 Set Price Target Citigroup Inc. Buy $92.00 to $98.00
2015-04-20 Boost Price Target FBR & Co. Outperform $93.00 to $95.00
2015-04-20 Reiterated Rating Oppenheimer Outperform $90.00
2015-04-13 Boost Price Target Raymond James Outperform $89.00 to $94.00
2015-02-24 Boost Price Target FBR & Co. Outperform $85.00 to $93.00
2015-01-30 Boost Price Target Jefferies Group Buy $88.00 to $91.00
2015-01-30 Boost Price Target FBN Securities $90.00
2015-01-29 Boost Price Target FBR & Co. Outperform $78.00 to $85.00
2015-01-27 Reiterated Rating Citigroup Inc. Buy $75.00 to $92.00
2015-01-27 Boost Price Target Oppenheimer Outperform $85.00 to $90.00
2015-01-26 Boost Price Target RBC Capital Sector Perform $77.00 to $83.00
2015-01-23 Downgrade Macquarie Outperform to Neutral
2015-01-22 Downgrade JPMorgan Chase & Co. Overweight to Neutral $78.00 to $83.00
2014-12-30 Upgrade Deutsche Bank Hold to Buy
2014-12-22 Boost Price Target Oppenheimer Buy $78.00 to $85.00
2014-12-17 Upgrade Deutsche Bank Hold to Buy $70.00 to $90.00
2014-11-20 Initiated Coverage Jefferies Group Buy $88.00
2014-11-12 Reiterated Rating Bank of America Buy $75.00 to $85.00
2014-11-11 Initiated Coverage Macquarie Outperform
2014-10-24 Upgrade Needham Hold to Buy $80
2014-10-24 Upgrade Needham & Company LLC Hold to Buy $80.00
2014-10-23 Boost Price Target BMO Capital Markets Market Perform $70.00 to $71.00
2014-10-23 Boost Price Target Topeka Capital Markets Buy $75.00 to $85.00
2014-10-23 Boost Price Target FBR & Co. Outperform $74.00 to $78.00
2014-08-28 Resumed Stifel Hold
2014-08-28 Initiated Coverage Stifel Nicolaus Hold
2014-07-23 Boost Price Target Topeka Capital Markets Buy $72.50 to $75.00
2014-07-16 Initiated Coverage Goldman Sachs Neutral
2014-05-22 Lower Price Target Goldman Sachs $66.00 to $56.00
2014-04-30 Reiterated Rating Topeka Capital Markets Buy $72.50
2014-04-30 Reiterated Rating JPMorgan Chase & Co. Overweight $69.00
2014-02-04 Initiated Coverage Sterne Agee CRT Buy $80.00
2014-01-29 Reiterated RBC Capital Mkts Sector Perform $65 to $70
2014-01-29 Boost Price Target RBC Capital Sector Perform $65.00 to $70.00
2014-01-28 Reiterated FBR Capital Outperform $70 to $74
2014-01-28 Boost Price Target FBR & Co. Outperform $70.00 to $74.00
2014-01-28 Boost Price Target FBN Securities $70.00 to $80.00
2014-01-22 Initiated Coverage Deutsche Bank Hold
2014-01-14 Boost Price Target MKM Partners Buy $68.00 to $73.00
2013-12-19 Initiated Coverage BMO Capital Markets Market Perform $67.00
2013-11-21 Initiated Coverage Barclays Overweight to Overweight $75.00
2013-11-12 Boost Price Target Cowen and Company Outperform $68.00 to $70.00
2013-10-27 Reiterated Rating RBC Capital Hold $67.00
2013-10-23 Boost Price Target RBC Capital Sector Perform $55.00 to $65.00
2013-10-22 Reiterated Stifel Buy $63 to $69
2013-10-22 Boost Price Target MKM Partners Buy $63.00 to $68.00
2013-10-22 Boost Price Target Raymond James $60.00 to $67.00
2013-10-22 Boost Price Target Jefferies Group Buy $65.00 to $70.00
2013-10-22 Boost Price Target Cowen and Company Outperform $65.00 to $68.00
2013-10-22 Boost Price Target Stifel Nicolaus Buy $63.00 to $69.00
2013-10-21 Boost Price Target FBN Securities Outperform $65.00 to $70.00
2013-10-18 Initiated Gabelli & Co Buy $74
2013-10-18 Initiated Coverage Gabelli Buy $74.00
2013-10-09 Upgrade Cowen and Company Market Perform to Outperform $65.00
2013-07-19 Reiterated Macquarie Outperform $55 to $63
2013-07-10 Downgrade Standpoint Research Buy to Hold
2013-04-18 Upgrade Standpoint Research Hold to Buy
2012-12-10 Downgrade Standpoint Research Buy to Hold
2012-10-19 Upgrade Standpoint Research Hold to Buy $50
2012-10-18 Reiterated Macquarie Outperform $60 to $55
2012-10-17 Reiterated MKM Partners Buy $60 to $48
2012-10-11 Downgrade Needham Buy to Hold
2012-07-19 Reiterated Macquarie Outperform $67 to $60
2012-06-01 Upgrade Wunderlich Hold to Buy $60
2016-07-08 Initiated Coverage Macquarie Neutral $91.00
2016-06-16 Downgrade Deutsche Bank Buy to Hold $95.00 to $90.00
2016-06-16 Downgrade Deutsche Bank AG Buy to Hold $95.00 to $90.00
2016-06-10 Reiterated Rating Jefferies Group Buy
2016-06-01 Downgrade Barclays Equal Weight to Underweight $91.00 to $83.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks

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