Oppenheimer Believes Splunk (NASDAQ: SPLK) Still Has Room to Grow

By Austin Angelo

According to TipRanks.com, Eyal is a top 100 analyst with an average return of 17.1% and a 67.8% success rate. Eyal covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Intellicheck Mobilisia, and Nuance Communications.

Currently, the analyst consensus on Splunk is a Strong Buy with an average price target of $170.71, representing a 4.6% upside. 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.

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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.