BofA raised the firm’s price target on Splunk to $150 from $130 and keeps a Buy rating on the shares after the company reported “strong” Q2 results with “meaningful” free cash flow upside being “the standout.” While FY24 pro-forma operating margin guidance of 21%-21.5% was “well ahead” of the firm’s forecast, it still sees room for operational improvement efforts from here, the analyst tells investors.
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- Splunk Stock (NASDAQ:SPLK): Vertical Price Move May Just be the Beginning
- Splunk (NASDAQ: SPLK) Surges after Strong Q2 Performance and Upbeat FY24 Outlook
- Splunk price target raised to $134 from $130 at Barclays
- Splunk raises FY24 revenue view to $3.925B-$3.95B from $3.9B, consensus $3.9B
- Splunk sees Q3 revenue $1.02B-$1.035B, consensus $981.34M