.png "Splunk Inc (NASDAQ: SPLK)")
Merrill Lynch analyst Kash Rangan maintained a Buy rating on Splunk Inc (SPLK) today and set a price target of $167. The company’s shares closed last Monday at $116.93.
According to TipRanks.com, Rangan is a 5-star analyst with an average return of 11.6% and a 63.7% success rate. Rangan covers the Technology sector, focusing on stocks such as Zoom Video Communications Inc Class A, DocuSign Inc, and Medallia Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Splunk Inc with a $151.90 average price target, a 28.7% upside from current levels. In a report issued on September 9, Rosenblatt Securities also initiated coverage with a Buy rating on the stock with a $150 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 $101 million. In comparison, last year the company had a GAAP net loss of $103 million.
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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.
