In a report released today, Kash Rangan from Merrill Lynch reiterated a Buy rating on Splunk Inc (SPLK), with a price target of $167. The company’s shares closed yesterday at $128.73.
According to TipRanks.com, Rangan is a 5-star analyst with an average return of 13.7% and a 67.8% success rate. Rangan covers the Technology sector, focusing on stocks such as Zoom Video Communications Inc Class A, Salesforce.com, and Cloudera Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Splunk Inc with a $153.93 average price target, a 19.6% upside from current levels. In a report issued on May 13, Monness also maintained a Buy rating on the stock with a $200 price target.
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The company has a one-year high of $143.70 and a one-year low of $83.69. Currently, Splunk Inc has an average volume of 1.64M.
Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock.
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Splunk, Inc. engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics, and industries.
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