Check Point Software Technologies Ltd. (CHKP) has entered into a partnership with online learning platform Coursera to offer free cybersecurity courses as the company builds on the need for more remote work solution systems.
The provider of cybersecurity solutions said that through the partnership a growing series of Check Point cybersecurity courses and content will be made available to security and network professionals. The financial terms of the collaboration weren’t disclosed.
The courses seek to upskill security and IT administrators on cyber threats and security management across mid-size and larger enterprise networks. The series is soon expected to be augmented with cloud security courses targeted at DevOps and DevSecOps specialists. The move comes as the coronavirus pandemic has forced many people to stay at home increasing demand for remote learning and working.
The partnership with Coursera, which has over 62 million users globally, further underlines Check Point’s commitment to providing ongoing education and training to professionals already working in cyber security, as well as to those looking to start a career in the sector, the company said.
Check Point added that recent research shows that the current number of unfilled cyber security roles stands at 4.07 million globally, up from 2.93 million last year.
“If we are to close the global cyber-security skills gap, we need to make it easier for both professionals and students to access learning materials to help them expand their knowledge at their own pace, and according to their needs,” said Shay Solomon, Director of Check Point’s Training Business Development. “Partnering with Coursera is a key step in helping us to do that. It will enable us to further accelerate both formal cybersecurity education and professional development for students at all levels.”
Shares in Check Point have surged 30% since dropping to a low in March, propelled by the growing need for security networks and remote solution systems as more people work from home during the coronavirus pandemic. The stock rose 1.6% to $108.25 in Tuesday morning trading.
Indeed, Shaul Eyal, an analyst at Oppenheimer says that Work-From-Anywhere (WFA) is accelerating digital transformation processes taken by almost every company and in that context, he views Check Point’s Infinity platform's holistic approach across firewall and cloud security as benefiting near-to-longer term.
Eyal maintains a Buy rating on the stock with a $126 price target, saying that Check Point stands ready to benefit in a tight IT budget environment.
“Cash is king in the current uncertain environment and CHKP carries ~$4B in cash and marketable securities or ~25% of the market cap. with no debt,” Eyal added.
Overall, Wall Street analysts are sidelined on the stock. The Hold consensus breaks down into 14 Holds and 3 Sells versus 2 Buys. The $110.56 average price target implies 2.2% upside potential in the coming 12 months. (See Check Point stock analysis on TipRanks).
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