Mizuho Securities Keeps Their Buy Rating on Splunk Inc

Mizuho Securities analyst Abhey Lamba maintained a Buy rating on Splunk Inc (NASDAQ: SPLK) on May 15 and set a price target of $120. The company’s shares closed yesterday at $115.15, close to its 52-week high of $117.86.

Lamba said:

“We expect a beat-and-raise print from the company and although the stock has had a strong YTD run, we remain positively biased over the NTM. Maintain our Buy rating and $120 PT as a best-in-class software name.”

According to TipRanks.com, Lamba is a 5-star analyst with an average return of 14.5% and a 72.2% success rate. Lamba covers the Technology sector, focusing on stocks such as CommVault Systems, Ultimate Software, and Microstrategy Inc.

Currently, the analyst consensus on Splunk Inc is Strong Buy and the average price target is $114.61, representing a -0.5% downside.

In a report released yesterday, Monness also maintained a Buy rating on the stock with a $132 price target.

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Based on Splunk Inc’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $25.07 million. In comparison, last year the company had a GAAP net loss of $99.93 million.

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.