There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Splunk Inc (SPLK) and Veritone Inc (VERI) with bullish sentiments.
Splunk Inc (SPLK)
Rosenblatt Securities analyst Marshall Senk maintained a Buy rating on Splunk Inc on February 20 and set a price target of $150. The company’s shares opened today at $132.49, close to its 52-week high of $136.89.
Senk commented:
“We are increasing our price target for Splunk shares from $135 to $150 ahead of the company’s Q419 earnings report on the close. Customer and partner feedback remained consistently positive from mid January close with a strong focus on customer expansions. We believe the company is well positioned to exceed our projections, with a bias to the top line.”
According to TipRanks.com, Senk is a 5-star analyst with an average return of 21.9% and a 77.0% success rate. Senk covers the Technology sector, focusing on stocks such as Carbonite Inc, Cloudera Inc, and MongoDB Inc.
Splunk Inc has an analyst consensus of Strong Buy, with a price target consensus of $137.44, a 3.7% upside from current levels. In a report issued on February 8, Barclays also maintained a Buy rating on the stock with a $154 price target.
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Veritone Inc (VERI)
In a report released today, Michael Latimore from Northland Securities assigned a Buy rating to Veritone Inc, with a price target of $20. The company’s shares opened today at $4.88, close to its 52-week low of $3.65.
Latimore said:
“We believe Wazee content revenue is seasonally strong in 2Qs, followed by 1Q and 3Q, with 4Q lowest. Headcount could increase about 10% this year. Sees EBITDA improvements in FY19 v. FY18.”
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 16.2% and a 58.6% success rate. Latimore covers the Technology sector, focusing on stocks such as Liveperson, Twilio Inc, and 8X8.
Veritone Inc has an analyst consensus of Moderate Buy, with a price target consensus of $15.50, a 217.6% upside from current levels. In a report released today, Roth Capital also maintained a Buy rating on the stock with a $15.50 price target.
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