Stifel Reiterates Buy Rating on Splunk (SPLK) Ahead of 3Q Report

Stifel analyst Brad Reback reiterated a Buy rating and $150.00 price target on Splunk (NASDAQ: SPLK) ahead of the company's 3Q report. Splunk is slated to report F3Q20 results Thursday (11/21) after the market close. Reback expects FY20 guidance to move higher based on strong business momentum and key financial metrics suggesting the underlying business is growing faster than its financials would indicate.

Reback is forecasting Splunk to report F3Q20 total revenue of $600.7M that is roughly in-line with management's guidance but a touch below the $604.2M consensus estimate. 3Q20 EPS estimates of $0.50 is moderately below the street at $0.54.

For an analyst ratings summary and ratings history on Splunk click here. For more ratings news on Splunk click here.

Shares of Splunk closed at $123.89 yesterday.

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