Shares of Splunk (SPLK) surged almost 7% in Tuesday morning trading after an investment firm gave the big data software developer a vote of confidence.
Northland Securities raised its rating for Splunk stock from “market perform” to “outperform.” Northland has set a price target of $66 for Splunk shares, thought that is down substantially from an earlier price target of $95 for SPLK shares, InterCoolerOnline notes.
In November, Splunk shares topped $74 after the company reported higher-than-expected sales and added more customers.
On Friday, Splunk stock closed at $45.99 per share.
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