Morgan Stanley Sticks to Their Buy Rating for Splunk (SPLK)

By Austin Angelo

Morgan Stanley analyst Keith Weiss maintained a Buy rating on Splunk (SPLKResearch Report) today and set a price target of $172.00. The company’s shares closed last Friday at $179.31.

According to TipRanks.com, Weiss is a 5-star analyst with an average return of 16.8% and a 70.9% success rate. Weiss covers the Technology sector, focusing on stocks such as Palo Alto Networks, Slack Technologies, and NortonLifeLock.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Splunk with a $180.42 average price target, which is a 5.0% upside from current levels. In a report issued on May 15, Wedbush also maintained a Buy rating on the stock with a $180.00 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.

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.