A method, system, and program product are provided for protecting and restoring data within a networked (e.g. cloud) storage computing environment through asynchronous replication and remote backup of data and its associated metadata. Data backup and recovery functionality provides data backups by detecting incremental updates to the data and its associated metadata at specific points in time determined by policies. The policies are configurable based on user requirements. Multiple copies of the data backups can be made and stored in separate compressed files at backup/disaster recovery locations. The backups of data and its associated metadata, which includes file system configuration information can be used to restore the state of a computer file system to that of a given point-in-time. Accordingly, a data protection approach is disclosed for protecting data at both the file system level and application level.