Cybersecurity solutions provider Check Point (CHKP) recently announced that its products, including the Check Point Quantum Security Gateways, Check Point Harmony Endpoint and Check Point R80 Security Management, were integrated into Incedo’s cybersecurity framework.
As a digital transformation consulting service provider, Incedo works with big volumes of client data and intellectual property. Those require safeguarding from a strong and consolidated cybersecurity solution.
With Check Point’s consolidated solutions, Incedo was successful in protecting its data as well its clients’ data from the incessant cyber-attacks that plagued 2020 and are still persistent. Simultaneously, the integration of Check Point’s products helped Incendo to reduce endpoint costs by 30% and scale productivity. (See Check Point stock chart on TipRanks)
Archie Jackson, Senior Director and Head of IT and Security, Incedo, testified, “By consolidating our cybersecurity defenses with Check Point Software, we’re far more agile and flexible than before. Check Point Software has helped us become a highly resilient organization. In fact, when ransomware attacks spiked in 2020 and early 2021, both our and our clients’ environments stayed safe.”
Earlier this month, Deutsche Bank analyst Patrick Colville reiterated a Hold rating on Check Point, while reducing the price target to $122 from $125, implying a 0.9% upside potential to current levels.
Colville is certain that the most crucial cybersecurity solution in the era of “Mobile Cloud” will be secure access service edge (SASE), which is an architecture that combines SD-WAN and network security and delivers applications and services from cloud to edge.
Notably, Check Point offers SASE through its Harmony Connect platform. SASE makes corporate applications, SaaS and the Internet securely accessible to any user or branch, from any device.
The analyst also believes that the demand experienced by SASE vendors like Zscaler, Palo Alto Networks and Fortinet from 2020 till date, reflects a structural long-term change in demand rather than a sudden pandemic-induced rise in spending.
Consensus among analysts is a Moderate Buy based on 3 Buys and 7 Holds. The average Check Point price target of $133.71 implies 10.6% upside potential to current levels.
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