RBC Capital Downgrades Splunk to Sector Perform, Raises Price Target to $157
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Matthew Hedberg has downgraded Splunk (NASDAQ:SPLK) from Outperform to Sector Perform, while raising the price target from $132 to $157.
September 22, 2023 | 2:14 pm
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Splunk's rating has been downgraded by RBC Capital, which could potentially impact investor sentiment. However, the raised price target suggests a positive outlook.
The downgrade from Outperform to Sector Perform might negatively impact investor sentiment towards Splunk, potentially leading to a short-term drop in stock price. However, the raised price target from $132 to $157 indicates a positive long-term outlook, which could offset the initial negative impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100