Splunk (SPLK) Receives a Rating Update from a Top Analyst

Credit Suisse analyst Brad Zelnick maintained a Buy rating on Splunk (SPLK) today and set a price target of $160.00. The company’s shares closed last Tuesday at $160.29.

According to TipRanks.com, Zelnick is a top 100 analyst with an average return of 17.9% and a 75.1% success rate. Zelnick covers the Technology sector, focusing on stocks such as Zoom Video Communications, Ping Identity Holding, and CrowdStrike Holdings.

Splunk has an analyst consensus of Strong Buy, with a price target consensus of $167.70, which is a 6.4% upside from current levels. In a report issued on May 5, RBC Capital also reiterated a Buy rating on the stock with a $180.00 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 77 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.

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