Jefferies Downgrades Splunk to Hold, Announces $157 Price Target
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst Brent Thill has downgraded Splunk (NASDAQ:SPLK) from Buy to Hold and set a price target of $157. This change reflects a more cautious stance on the company's stock by the analyst.

November 27, 2023 | 9:50 am
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Splunk was downgraded by Jefferies from Buy to Hold with a price target of $157, indicating a neutral outlook on the stock's short-term performance.
The downgrade from Buy to Hold by a major analyst like Jefferies suggests that they see limited upside potential or increased risk in the stock's near-term performance. This could lead to a neutral or slightly negative investor sentiment in the short term, as market participants often adjust their positions based on analyst ratings. However, the establishment of a price target at $157 also indicates that the analyst does not foresee significant downside, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100