In a report released yesterday, Raimo Lenschow from Barclays maintained a Buy rating on Splunk (SPLK), with a price target of $145.00. The company’s shares closed last Monday at $95.71, close to its 52-week low of $93.92.
According to TipRanks.com, Lenschow is a top 100 analyst with an average return of 14.7% and a 65.3% success rate. Lenschow covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Ceridian HCM Holding, and Slack Technologies.
Currently, the analyst consensus on Splunk is a Strong Buy with an average price target of $177.68, an 81.3% upside from current levels. In a report issued on March 2, Rosenblatt Securities also reiterated a Buy rating on the stock with a $200.00 price target.
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Based on Splunk’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $22.73 million. In comparison, last year the company had a net profit of $2.13 million.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SPLK in relation to earlier this year.
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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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