Check Point surges on Q2 results, other cybersecurity stocks trend down

Check Point Software Technologies (NASDAQ:CHKP) surged as much as 8% by afternoon trading Wednesday following the pre-market release of its Q2 2024 financial results.

However, rival cybersecurity stocks were trending down, including CrowdStrike (NASDAQ:CRWD), which slipped 2.7% as it tries to rebound after causing a global Microsoft (MSFT) Windows outage last week. It’s now down 15% over the past five trading sessions.

CrowdStrike apparently offered some of its affected customers a $10 Uber Eats (UBER) gift card as an apology for the crash, according to a report Wednesday by TechCrunch.

SentinelOne (NYSE:S) slipped 3% after climbing earlier in the week on CrowdStrike’s stumble. Zscaler (NASDAQ:ZS) also declined about 3% while Cloudflare (NYSE:NET) fell 5%.

Even cybersecurity stalwart Palo Alto Networks (NASDAQ:PANW) and Okta (NASDAQ:OKTA) both declined 2% by afternoon trading. Fortinet (NASDAQ:FTNT), Rapid7 (NASDAQ:RPD) and CyberArk (NASDAQ:CYBR) all slid 1.8%, but Cisco Systems (NASDAQ:CSCO) inched up 1%.