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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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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