RBC Capital analyst Matthew Hedberg maintained a Buy rating on Splunk (SPLK) on March 29 and set a price target of $180.00. The company’s shares closed last Tuesday at $126.23.
According to TipRanks.com, Hedberg is a top 100 analyst with an average return of 17.6% and a 66.0% success rate. Hedberg covers the Technology sector, focusing on stocks such as Ping Identity Holding, Altair Engineering, and Netscout Systems.
Currently, the analyst consensus on Splunk is a Strong Buy with an average price target of $176.45, representing a 38.7% upside. In a report issued on March 16, Barclays also maintained a Buy rating on the stock with a $145.00 price target.
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Based on Splunk’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $791 million and GAAP net loss of $22.73 million. In comparison, last year the company earned revenue of $622 million and had a net profit of $2.13 million.
Based on the recent corporate insider activity of 72 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. The company was founded by Erik M. Swan, Michael J. Baum and Robin K. Das in October 2003 and is headquartered in San Francisco, CA.
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