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Fly News Breaks for March 5, 2020
Mar 5, 2020 | 05:15 EDT
Jefferies analyst Brent Thill recommends using the post-earnings selloff today in shares of Splunk (SPLK) as a buying opportunity. The decision to pivot to a cloud/subscriber first model has been a "massive tailwind" to other stocks, including Adobe (ADBE), Autodesk (ADSK) and Intuit (INTU), Thill tells investors in a research note. Splunk shares will follow suit and head towards $180, contends the analyst. Thill reiterates a Splunk as a top pick with a Buy rating and $180 price target. The stock in premarket trading is down 4% to $149.50.
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