Monness Sticks to Its Hold Rating for Splunk (SPLK)

By Carrie Williams

Monness analyst Brian White maintained a Hold rating on Splunk (SPLKResearch Report) today. The company’s shares closed last Thursday at $163.45, close to its 52-week high of $176.31.

According to TipRanks.com, White is a top 25 analyst with an average return of 25.9% and a 74.0% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Slack Technologies, and Salesforce.

Splunk has an analyst consensus of Strong Buy, with a price target consensus of $176.60, implying an 8.2% upside from current levels. In a report issued on May 14, Cleveland Research also maintained a Hold rating on the stock with a $124.00 price target.

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The company has a one-year high of $176.31 and a one-year low of $93.92. Currently, Splunk has an average volume of 2.26M.

Based on the recent corporate insider activity of 79 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.