- BTIG upgraded its rating on Splunk Inc SPLK as recent channel checks were "improving," and the company was "turning a corner with its cloud product and observability platform."
- Analyst Gray Powell raised his rating to Buy with a $155 price target, 33% higher than current levels, noting that the San Francisco-based software company has a "few dynamics" that could help move the stock higher with a higher trading multiple.
- "Specifically, we like the accelerated mix shift to cloud," Powell noted.
- Price Action: SPLK shares traded higher by 1.15% at $116.61 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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