Splunk Inc (SPLK) Gets a Buy Rating from Credit Suisse


Credit Suisse analyst Brad Zelnick reiterated a Buy rating on Splunk Inc (NASDAQ: SPLK) yesterday and set a price target of $130. The company’s shares closed yesterday at $115.43.

According to TipRanks.com, Zelnick is a 4-star analyst with an average return of 9.4% and a 72.0% success rate. Zelnick covers the Technology sector, focusing on stocks such as Ultimate Software, Salesforce.com, and Everbridge Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Splunk Inc with a $133.77 average price target, representing a 15.9% upside. In a report issued on September 7, Barclays also maintained a Buy rating on the stock with a $136 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 86 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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