Cisco Systems (CSCO) to Acquire Splunk (SPLK) for $157 Per Share, $28 Billion

Cisco (CSCO) PT Raised to $76 at Tigress Financial Partners

Tigress Financial Partners analyst Ivan Feinseth raised the price target on Cisco (NASDAQ: CSCO) to $76.00 while maintaining a Buy rating.

The analyst comments "

We reiterate our Buy rating on CSCO and increase our 12-month target price to $76 as CSCO will continue to benefit from increasing demand for smart AI-driven high-speed networks bandwidth and security and the recently announced acquisition of software developer Splunk (SPLK-US, Non-rated) further accelerates its security and AI capabilities, increases the ongoing growth of its services revenue and adds an additional upside catalyst. Yesterday, CSCO announced the acquisition of Splunk (SPLK-US,... More

Splunk (SPLK) PT Raised to $157 at Mizuho Securities, 'we're curious if CSCO will make significant changes to pricing'

Mizuho Securities analyst Gregg Moskowitz raised the price target on Splunk (NASDAQ: SPLK) to $157.00 (from $116.00) while maintaining a Neutral rating.

The analyst comments "...our checks have routinely indicated that SPLK's pricing remains a high barrier for significant adoption, and if anything this has... More

Splunk (SPLK) PT Raised to $157 at Truist Securities, 'favorable outcome for SPLK shareholders'

Truist Securities analyst Joel Fishbein Jr. raised the price target on Splunk (NASDAQ: SPLK) to $157.00 (from $130.00) while maintaining a Buy rating.

The analyst comments "We see this morning's announcement as a highly positive outcome for Splunk shareholders. The company has continued to work... More

Stifel on Splunk (SPLK) and Cisco (CSCO) Deal: 'this is a great outcome for Splunk shareholders'

Stifel analyst Brad Reback reiterated a Hold rating and {REMOVEPT} price target on Splunk (NASDAQ: SPLK).

The analyst comments "Overall we believe this is a great outcome for Splunk shareholders and is a testament to the work that CEO Steele, CFO Roberts and the rest of the senior leadership team has accomplished over the last several quarters to meaningfully improve the operational efficiency of the business while stabilizing ARR... More

Splunk (SPLK) to Resume Trading at 8:15 a.m.

Splunk (NASDAQ: SPLK) to Resume Trading at 8:15 a.m.