Splunk Inc (SPLK)
In a report issued on October 4, Marshall Senk from Rosenblatt Securities reiterated a Buy rating on Splunk Inc, with a price target of $135. The company’s shares closed on Friday at $110.59.
“We come away from Splunk’s annual user conference (“.conf”) with increased convic- tion that the business momentum remains very strong with customers reacting very positively to several parts of the new Enterprise 7.2 release which we believe could drive more expansion. Attendance at the event was up over 40% from last year, a further sign of accelerating momentum. We believe the combination of significant innovation, go -to-market execution (i.e., solution selling and focus on ratable revenue) and customer success set the company up for continuing outperformance. We reiter- ate our Buy rating and $135 price target.”
According to TipRanks.com, Senk is a 5-star analyst with an average return of 23.0% and a 74.0% success rate. Senk covers the Technology sector, focusing on stocks such as Proofpoint Inc, Salesforce.com, and Carbonite Inc.
Currently, the analyst consensus on Splunk Inc is a Strong Buy with an average price target of $133.91, which is a 21.1% upside from current levels. In a report issued on September 19, Credit Suisse also reiterated a Buy rating on the stock with a $130 price target.
FireEye Inc (FEYE)
Evercore ISI analyst Kenneth Talanian maintained a Buy rating on FireEye Inc on October 5 and set a price target of $22. The company’s shares closed on Friday at $17.37.
“We attended FireEye’s annual Cyber Defense Summit (f/k/a D.C this week. We believe attendance was in excess of 1,700 people (inclusive of FEYE employees), higher than in prior years. We estimate that last year’s conference saw attendance of ~1,200 people but is not a fair comparison in that most US federal employees were unable to attend due to the conference being held in Las Vegas. While we received no quantitative indication of FEYE’s progress during 3Q, we found a largely upbeat employee base and many happy customers in attendance. Further, the product focused conference highlighted several important improvements to the FEYE catalog: FEYE’s Helix solution is now better suited to compete with the likes of SPLK for security specific SIEM solutions.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 17.3% and a 75.3% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Symantec Corp, and Check Point.
Currently, the analyst consensus on FireEye Inc is a Strong Buy with an average price target of $20.60, representing a 18.6% upside. In a report issued on October 4, Goldman Sachs also maintained a Buy rating on the stock with a $22 price target.
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