Splunk (SPLK) Gets a Buy Rating from Needham

Needham analyst Jack Andrews assigned a Buy rating to Splunk (SPLK) today and set a price target of $265.00. The company’s shares closed last Wednesday at $143.19.

According to TipRanks.com, Andrews is a 5-star analyst with an average return of 26.1% and a 63.5% success rate. Andrews covers the Technology sector, focusing on stocks such as CommVault Systems, LiveRamp Holdings, and Pegasystems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Splunk with a $216.91 average price target, implying a 45.5% upside from current levels. In a report issued on February 24, Jefferies also maintained a Buy rating on the stock with a $240.00 price target.

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Splunk’s market cap is currently $23.16B and has a P/E ratio of -30.40. The company has a Price to Book ratio of 224.36.

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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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