Check Point Software Technologies Ltd (CHKP) Target Price Hiked at Mizuho to $240

Check Point Software Technologies Ltd. (NASDAQ:CHKP) is one of the 13 best software stocks to buy now. On June 16, analysts at Mizuho reiterated a ‘Neutral’ Rating on the stock but raised the price target to $240 from $230. The adjustment reflects the recent appreciation in the company’s comparable multiples.

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The company’s head of investor relations, Kip Meintzer, has already noted that the company is yet to experience a negative impact from deteriorating macroeconomic conditions. Likewise, Meintzer expects Check Point Software’s subscription revenue to grow significantly by the end of the year.

On its part, Mizuho is confident that Checkpoint Software Technologies will benefit from healthy appliance refresh cycles throughout the year. Nevertheless, the research firm has stuck with the neutral rating, insisting the company has much to prove on reaccelerating the business.

Mizuho’s price target hike also comes on the heels of Checkpoint Software Technologies’ announcement of the acquisition of Veriti Cybersecurity. The acquisition is poised to enhance its hybrid mesh security vision.

Check Point Software Technologies Ltd. (NASDAQ:CHKP) develops, markets, and supports a range of products and services for IT security worldwide. It provides a multilevel security architecture that defends enterprises’ cloud, network, mobile devices, endpoint information, and IOT solutions.

While we acknowledge the potential of CHKP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.