Splunk (SPLK) PT Raised to $145 at Monness, Crespi, Hardt; Strong Performance in Weakest Quarter

Monness, Crespi, Hardt raised its price target on Splunk (NASDAQ: SPLK) to $145.00 (from $132.00) while maintaining a Buy rating.

Analyst Brian White commented, "Splunk reported strong 1QFY19 results and the company raised its revenue outlook for FY19. The April quarter is the weakest of the year for Splunk and the company delivered an excellent performance. Given the 40% gain in the stock this year, Splunk could be susceptible to profit taking in early trading this morning and we would be aggressive buyers on any weakness. We are raising our estimates and increasing our price target to $145 (from $132)."

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