Merrill Lynch analyst Kash Rangan reiterated a Buy rating on Splunk (NASDAQ:SPLK) Inc on Thursday, setting a price target of $260, which is approximately 19.96% above the present share price of $216.74.
Rangan expects Splunk Inc to post earnings per share (EPS) of -$1.94 for the third quarter of 2020.
The current consensus among 26 TipRanks analysts is for a Strong Buy rating of shares in Splunk, with an average price target of $239.8.
The analysts price targets range from a high of $300 to a low of $190.
In its latest earnings report, released on 04/30/2020, the company reported a quarterly revenue of $434.08 million and a net profit of -$288.61 million. The company's market cap is $34.43 billion.
According to TipRanks.com, Merrill Lynch analyst Kash Rangan is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 20.3% and a 72.77% success rate.
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.