Splunk Shares Gain As UBS Upgrades It To Buy, Increased Price Target Implies 24% Upside

August 11, 2021 3:49 PM | 1 min read |

UBS analyst Karl Keirstead upgraded Splunk Inc SPLK to Buy from Neutral with a price target of $175, up from $137, implying a 23.8% upside.
Keirstead cites a more stable tone from his checks, particularly regarding competition, the potential for upside in security-related demand, and good Splunk Cloud traction.
Keirstead further indicates his comfort in recommending Splunk given the recent $1 billion Silver Lake investment and Amazon.com Inc AMZN Amazon Web Services (AWS) hires.
Price Action: SPLK shares traded higher by 2.88% at $145.35 on the last check Wednesday.