08 Sep 2014

Check Point stocks reach all time high after breaches

Check Point is the second largest security company in the world.  After JP Morgan Chase recently reported a breach which involved unemployment benefits and income tax refunds issued by agencies such as the Louisiana Workforce Commission pre-paid debit cards, Check Point Software Technologies Ltd (CHKP) hit an all time stock value of $71.99.  Check Point

 

Along with the JP Morgan breach came the momentum of Apple's iCloud celebrity customers having their nude photos exploited through targeted social engineering attacks by some enthusiastic low level hackers from Reddit.

Bloomberg anticipates the increase of visibility in breaches and the tide of cyber security technology and service requirements will propel Check Point stock to grow sales to more than 6.3% from last year which would come out just shy of $1.5 billion.  This is nine months after Elena Popina's article in Bloomberg which demonstrated Check Point's rise to a 12 year high when earnings beat estimates at a whopping $65.93 on January 27, 2014.

 

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