We recently published a list of 10 Stocks Wall Street Is Calling Bullish Amid Market Turmoil. In this article, we are going to take a look at where Check Point Software Technologies Ltd. (NASDAQ:CHKP) stands against other stocks that Wall Street is calling bullish amid market turmoil.
The S&P 500 is down 8.6% in a month while the Nasdaq has lost nearly 13%. Markets continue to scare retail investors as stock after stock struggles to deal with the aftermath of Donald Trump’s unpredictable and aggressive policies.
While it is advisable to stay out of the market till the dust settles, one also can’t deny that it is times like these that bring opportunities. We decided to come up with a list of stocks that are expected to go up even in the existing gloomy environment.
To come up with the list of 10 stocks that Wall Street is bullish on, we looked at stocks that were recently upgraded by analysts and have performed well in the last 5 days of trading.
An engineer typing on a computer, developing the latest cybersecurity application.
Check Point Software Technologies Ltd. (NASDAQ:CHKP)
Check Point Software Technologies Ltd. (NASDAQ:CHKP) is a marketer, developer, and supporter of a variety of products and services for IT security. It provides a multilevel security architecture, mobile devices, IoT solutions, networks, endpoints information, and cloud. The stock was just upgraded from Equal Weight to Overweight at Wells Fargo, and the reason has to do with the new CEO.
Nadav Zafrir, who became the CEO of CHKP at the end of last year, is the former commander of Unit 8200. Unit 8200 is an intelligence unit of the Israel Defense Force. As someone with hands-on experience in how to deal with cybersecurity at a national level, he brings immense value to the company. Wells Fargo had this to say about the new CEO:
“While many other CEOs in the cybersecurity landscape have strong relationships with executives in the Fortune 500, very few (if any) have the ‘hands-on’ experience of defending against a nation-state cyber attack as Mr. Zafrir has.”
Wells Fargo also upgraded the target price from $200 to $280. Last month, JP Morgan boosted its price target on the stock to $255 from the previous target of $221. Check Point Software Technologies (NASDAQ:CHKP) is expected to grow at 6% this year as well as in 2026 with the free cash flow also projected to grow at a rate of 13%-14% in the next two years.
Overall, CHKP ranks 10th on our list of stocks that Wall Street is calling bullish amid market turmoil. While we acknowledge the potential of CHKP as a leading investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as CHKP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
