Network security +13% in Q4, continues strength - BofAML

|About: Check Point Software Techno... (CHKP)|By:, SA News Editor

Bank of America Merrill Lynch notes that the network security industry continued accelerating in Q4 due to higher demand for firewalls and protective tools to block newer malware. And the firm expects the strength to continue in 2019.

The total network security product market grew 12.6% Y/Y in 2018, marking the "fourth consecutive quarter of double-digit growth" and "the strongest year since we began tracking the market in 2012."

Firewall products grew 16% Y/Y to $2.4B in Q4, and advanced threat products grew 19% to $416M.

Related network security companies: Palo Alto (PANW -0.7%), FireEye (FEYE -1.1%), Check Point (CHKP +0.6%), and Fortinet (FTNT -0.2%).

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