Oppenheimer analyst Shaul Eyal maintained a Buy rating on Splunk Inc (NASDAQ: SPLK) today and set a price target of $130. The company’s shares closed on Friday at $115.86, close to its 52-week high of $121.64.
Eyal wrote:
“Following investor meetings with SPLK’s management (CEO, CFO, VP IR), we reiterate our Outperform and $130 target as we believe SPLK is executing effectively into a favorable environment and is well positioned to garner the lion’s share of its massive $62B TAM. Illustrative of SPLK’s momentum, for FY18 (Jan. ’18), the company closed ten mega orders (orders larger than $10M) compared to a total of six such deals during the years 2012-2017. SPLK’s unique platform has positioned it to leverage global data growth into generating revenue of $2B for FYE Jan. ’20 (SPLK has guided accordingly). To win this TAM, SPLK is maintaining its technological lead, introducing cutting-edge solutions and incorporating advanced capabilities (for example, natural language processing).”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 15.6% and a 67.5% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and Varonis Systems.
Splunk Inc has an analyst consensus of Strong Buy, with a price target consensus of $122.73.
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The company has a one-year high of $121.64 and a one-year low of $55.92. Currently, Splunk Inc has an average volume of 1.73M.
Based on the recent corporate insider activity of 84 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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