Barclays Believes Splunk Inc (SPLK) Still Has Room to Grow


Barclays analyst Raimo Lenschow maintained a Buy rating on Splunk Inc (NASDAQ: SPLK) on May 25 and set a price target of $127. The company’s shares closed on Friday at $110.26, close to its 52-week high of $119.

According to TipRanks.com, Lenschow is a top 100 analyst with an average return of 19.0% and a 74.3% success rate. Lenschow covers the Technology sector, focusing on stocks such as Ceridian HCM Holding Inc, Coupa Software Inc, and Citrix Systems.

Currently, the analyst consensus on Splunk Inc is Strong Buy and the average price target is $121.25, representing a 10.0% upside.

In a report issued on May 16, Monness also maintained a Buy rating on the stock with a $132 price target.

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The company has a one-year high of $119 and a one-year low of $54.17. Currently, Splunk Inc has an average volume of 1.93M.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock.

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Splunk, Inc. engages in the development and provision of software solutions. The company offers cloud services, enterprise security, application delivery, big data, business analytics, information technology operations and log management through its machine data product.

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