Splunk (SPLK) Gets a Buy Rating from Rosenblatt Securities


In a report issued on June 9, Yun Kim from Rosenblatt Securities maintained a Buy rating on Splunk (SPLK), with a price target of $200.00. The company’s shares closed last Monday at $203.15, close to its 52-week high of $213.26.

According to TipRanks.com, Kim is a 5-star analyst with an average return of 21.4% and a 73.5% success rate. Kim covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Manhattan Associates, and Palo Alto Networks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Splunk with a $203.14 average price target, a 1.1% upside from current levels. In a report issued on June 25, Berenberg Bank also initiated coverage with a Buy rating on the stock with a $222.00 price target.

See today’s analyst top recommended stocks >>

Based on Splunk’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $434 million and GAAP net loss of $306 million. In comparison, last year the company earned revenue of $425 million and had a GAAP net loss of $155 million.

Based on the recent corporate insider activity of 93 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts