Merrill Lynch Maintains Their Buy Rating on Splunk Inc (SPLK)
Merrill Lynch analyst Kash Rangan maintained a Buy rating on Splunk Inc (NASDAQ: SPLK) on October 3 and set a price target of $135. The company’s shares closed on Friday at $110.59.
According to TipRanks.com, Rangan is a 5-star analyst with an average return of 13.8% and a 69.3% success rate. Rangan covers the Technology sector, focusing on stocks such as Salesforce.com, Cloudera Inc, and Oracle Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Splunk Inc with a $133.91 average price target, 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.
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Based on Splunk Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $103 million. In comparison, last year the company had a GAAP net loss of $83.5 million.
Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock.
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Splunk, Inc. engages in the development and provision of software solutions. Its software solutions include cloud services, enterprise security, application delivery, big data, business analytics, and information technology operations and log management.
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