TECH - Splunk Reports Strong Quarter On Cybersecurity Demand: These 4 Analysts Deep Dive Into Q3 Print | Benzinga
Splunk Inc (NASDAQ: SPLK) shares were rising in early trading on Wednesday after the company reported upbeat third-quarter results.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the earnings release.
Truist Securities On Splunk
Analyst Joel Fishbein downgraded the rating from Buy to Hold, while keeping the price target unchanged at $157.
Splunk "delivered a solid quarter of execution with revenue and non-GAAP operating profit coming in ahead of our expectations and guidance,” Fishbein said in the downgrade note.
He added that Cisco Systems Inc.'s (NASDAQ: CSCO) plans to acquire the company for $157 per share in cash is favorable for Splunk’s shareholders and could close by the end of 2024.
Mizuho Securities On Splunk
Analyst Gregg Moskowitz reiterated a Neutral rating and price target of $157.
"SPLK reported partial F3Q results that were modestly above ...